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Anyone Want To Buy The Royal Bank Of Canada?

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Specifically its not so hot US-based RBC Bank unit? Because the Canadians want to get rid of this thing and fast.

The international-banking unit, which includes Raleigh, North Carolina-based RBC Bank, had 10 consecutive quarterly losses before returning to profitability in the first quarter of 2011, according to the bank’s financial statements. The U.S. consumer bank lost money in the first quarter, said Chief Executive Officer Gordon Nixon on March 3. RBC Bank is the smallest of Royal Bank’s U.S. operations, which also include asset management and the RBC Capital Markets investment bank.

While that may sound like an attractive acquisition to many, Bank of America, Wells Fargo, JPMorgan and Citi "face constraints related to the deposit market share or 'too big to fail' concerns," so no RBC for them. Potential buyers are said to include U.S. Bancorp and PNC Financial Services but are nowhere near close to a deal. Make your offer today.

Royal Bank of Canada Said To Seek Buyers For US Bank [Bloomberg]


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