PNC Buys Royal Bank’s Retail Branches For $3.45 Billion

Royal Bank of Canada at Woodbine & 16th

Image via Wikipedia

Pittsburgh-based PNC Bank is gobbling up all of Royal Bank of Canada’s U.S.branches – 424 locations in all.  The acquisition will make PNC the fifth largest U.S. bank with 2,870 branches.

RBC USA locations are in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.

The acquisition is expected to close in March of 2012.

2 comments on “PNC Buys Royal Bank’s Retail Branches For $3.45 Billion

  1. Roy, you may want to do some further digging on this piece. The bank to which you’ve linked in the Philadelphia area is Royal Bank of America, a unit of Royal Bancshares of Pennsylvania Inc. (stock ticker symbol RBPAA), and to my knowledge wholly different from Royal Bank of Canada (stock ticker symbol RY).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s