RBC buys HSBC Bank Canada | Milesopedia
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RBC buys HSBC Bank Canada

To the point RBC has agreed to purchase the business of HSBC Bank Canada for $13.5 billion with plans to complete the transaction by the end of 2023.

RBC and HSBC Canada: the transaction

A few months ago, HSBC announced that it was looking for a buyer for its Canadian branch, HSBC Canada. And RBC Bank won the bid for $13.5 billion.

Hsbc Premier Agency
Hsbc Premier Agency

With HSBC Canada, RBC will further position itself with certain clients with wealth management needs such as :

  • International customers
  • Newcomers

HSBC has 130 branches in Canada and 4,200 employees (including 450 in Quebec).

In comparison, RBC has 65,000 full-time employees in Canada.

HSBC and RBC: Credit Cards

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Bottom line

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