Royal Bank Of Canada Sells RBC Investor Services' European And Malaysian Operations
Portfolio Pulse from Lekha Gupta
Royal Bank of Canada (RY) has completed the sale of its Investor Services' operations in Europe and Malaysia to CACEIS, a subsidiary of Credit Agricole SA (CRARY, CRARF) and Santander UK PLC (STNDF). The deal does not include RBC's Canadian operations. RY's Q2 FY23 adjusted net income was down 13% Y/Y, and adjusted EPS declined by 11% Y/Y.
July 03, 2023 | 9:35 am
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POSITIVE IMPACT
Credit Agricole SA's subsidiary, CACEIS, has acquired the European and Malaysian operations of Royal Bank of Canada.
The acquisition could potentially expand CACEIS's footprint and increase its market share in Europe and Malaysia, which could positively impact CRARY's stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Santander UK PLC is part of the acquisition of Royal Bank of Canada's European and Malaysian operations through CACEIS.
As part of the deal through CACEIS, the acquisition could potentially expand Santander UK's operations and increase its market share, which could positively impact STNDF's stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Royal Bank of Canada has sold its European and Malaysian operations to CACEIS. The bank's Q2 FY23 adjusted net income and EPS have declined.
The sale of operations could streamline RY's business and potentially improve future profitability. However, the recent decline in earnings may negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100