Royal Bank of Canada expects its struggling unit in the U.S. to be "a net contributor" to Canada's biggest lender and is bullish about the opportunities south of the border, CEO Dave McKay told Reuters on Wednesday. City National Bank, which RBC acquired in 2015 under McKay's watch, required capital injection and saw shake-up of its top executives last year as the regional banking crisis in the United States roiled smaller financial institutions. "This is, for us, a good pause to reset the foundation for the next leg of growth and we're very positive that City National will be a net contributor to the bank going forward," McKay said in an interview after wrapping up the purchase of HSBC Canada over the weekend.
Canadian Lender RBC s CEO Says City National Will Be a Net Contributor
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Canadian lender RBC s CEO says City National will be a net contributor
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