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Royal Bank of Canada to buy HSBC Bank Canada for C$13.5bn

HSBC signage
Photo: Getty Images

The big “once in a generation” deal is expected to close by late 2023.

Canada’s largest bank, Royal Bank of Canada (RBC), has entered into an agreement to acquire HSBC Bank Canada (“HSBC Canada”), a premier personal and commercial bank focused on globally connected clients.

Under the terms of the purchase, RBC will acquire 100% of the common shares of HSBC Canada for an

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