Finance
RBC Sees Limited Opportunities for US Deals in Short Term
- Tactical wealth, commercial acquisitions a longer-term focus
- Bank plans to end dividend-reinvestment plan this year
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Royal Bank of Canada is interested in adding to its US business through wealth-management and commercial-banking acquisitions, but deals south of the border are hard to come by, Chief Executive Officer Dave McKay said.
Speaking Tuesday at a conference in Toronto hosted by RBC Capital Markets, McKay said that while US mergers aren’t an immediate priority, the region will continue to be a focus for Canada’s largest lender.