News Formal

HSBC eyes bumper dividend from $10 bln sale of Canada business to RBC

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

HSBC has agreed to sell its business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout for shareholders later down the line.

for C$13.5 billion in cash, paving the way for a potential bumper payout for shareholders later down the line.

HSBC's disposals have accelerated amid pressure from its biggest shareholder Ping An Insurance Group , which has urged the bank to split off its Asian business to boost returns. "The transaction looks very sensible. In essence, the business is worth more to RBC than it is to HSBC, and the price reflects this," said Ian Gordon, banking analyst at Investec.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Chinese bank

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HSBC to sell Canada business to RBC for $10 blnHSBC has agreed to sell its business in Canada to Royal Bank of Canada for $13.5 billion Canadian dollars ($10.04 billion) in cash. Both heavily exposed to Evergrande / China RE...
Source: Reuters - 🏆 2. / 97 Read more »