HSBC completes sale of Canadian unit to RBC-March 2024-www.financetom.com

HSBC completes sale of Canadian unit to RBC

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HSBC completes sale of Canadian unit to RBC

Mar 28, 2024 10:59 PM

March 29 (Reuters) - HSBC Holdings ( HSBC ) said it

completed the sale of its Canadian unit, HSBC Bank Canada, to

Royal Bank of Canada ( RY ) on Thursday.

The completion will result in the recognition of an

estimated gain on sale of $4.9 billion in the first quarter of

2024, HSBC ( HSBC ) said in a statement on Friday.

(Reporting by Jahnavi Nidumolu in Bengaluru; Editing by

Subhranshu Sahu)

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