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<blockquote data-quote="klein" data-source="post: 850568" data-attributes="member: 23950"><p><span style="font-size: 15px"><strong>Royal Bank sells U.S. operations for $3.45 B to PNC Financial Services</strong></span></p><p><span style="font-size: 15px"></span></p><ul> <li data-xf-list-type="ul"><span style="font-size: 12px"><span style="color: #161616"><img src="http://l.yimg.com/bt/api/res/1.2/FlpT4Eo1syavSTGjmhnPwg--/YXBwaWQ9eW5ld3M7Y2g9NDQ5O2NyPTE7Y3c9NjUwO2R4PTA7ZHk9MDtmaT11bGNyb3A7aD0xMzI7cT04NTt3PTE5MA--/http://media.zenfs.com/en_ca/News/Capress/cpt10666332_high.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></span></span></li> </ul><p>The entrance to a Royal Bank of Canada office is seen in Orlando, Fla.</p><p></p><p></p><p></p><p>TORONTO - Royal Bank of Canada has reportedly agreed to sell its money-losing retail banking operations in the United States to PNC Financial Services Group Inc. for $3.45 billion, a move that would finally bring an end to the bank's foray south of the border.</p><p></p><p>The deal, first reported Sunday by The Wall Street Journal, is expected to be announced on Monday.</p><p></p><p>Analysts had estimated the bank's potential valuation range between US$2.8 billion and US$3.7 billion.</p><p></p><p>RBC (TSX:RY) operates under the RBC Bank banner in the U.S. with more than 400 branches throughout North Carolina, South Carolina, Virginia, Georgia, Florida and Alabama.</p><p></p><p><span style="color: #000080">(I guess this means the Caroline Hurricanes might be seeking a new sponsor, since their Hockey Arena is named RBC Center )</span></p><p><span style="color: #000080"></span></p></blockquote><p></p>
[QUOTE="klein, post: 850568, member: 23950"] [SIZE=4][B]Royal Bank sells U.S. operations for $3.45 B to PNC Financial Services[/B] [B][/B][/SIZE] [LIST] [*][SIZE=3][COLOR=#161616][IMG]http://l.yimg.com/bt/api/res/1.2/FlpT4Eo1syavSTGjmhnPwg--/YXBwaWQ9eW5ld3M7Y2g9NDQ5O2NyPTE7Y3c9NjUwO2R4PTA7ZHk9MDtmaT11bGNyb3A7aD0xMzI7cT04NTt3PTE5MA--/http://media.zenfs.com/en_ca/News/Capress/cpt10666332_high.jpg[/IMG][/COLOR][/SIZE] [/LIST] The entrance to a Royal Bank of Canada office is seen in Orlando, Fla. TORONTO - Royal Bank of Canada has reportedly agreed to sell its money-losing retail banking operations in the United States to PNC Financial Services Group Inc. for $3.45 billion, a move that would finally bring an end to the bank's foray south of the border. The deal, first reported Sunday by The Wall Street Journal, is expected to be announced on Monday. Analysts had estimated the bank's potential valuation range between US$2.8 billion and US$3.7 billion. RBC (TSX:RY) operates under the RBC Bank banner in the U.S. with more than 400 branches throughout North Carolina, South Carolina, Virginia, Georgia, Florida and Alabama. [COLOR=#000080](I guess this means the Caroline Hurricanes might be seeking a new sponsor, since their Hockey Arena is named RBC Center ) [/COLOR] [/QUOTE]
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