107 replies to this topic

[vortoozo]

Lehman Bros comes knocking, asking where they still exist...

 

Not a retail bank.

Wells Fargo, Chase, Iceland, Spain, Lloyds....

[vortoozo]

Why apply this just to banks then?

 

Why not make it so all our cars and appliances etc. and every service we use also be Canadian based?

 

Why just banks (and airlines and telecommunications)?

 

Products vs services.

[lanforod]

Ok fine, WaMu then.

[Victoria Watcher]

Products vs services.

 

OK. 

 

Netflix.

Google.

Facebook.

Amazon.

Ebay.

 

 

Canadianize them all!  Keep the money here.

Edited by Victoria Watcher, 29 November 2022 - 09:18 AM.

[vortoozo]

Ok fine, WaMu then.

 

Are you trying to argue that foreign banks are more stable, or less?

[vortoozo]

OK. 

 

Netflix.

Google.

Facebook.

Amazon.

Ebay.

 

 

Canadianize them all!  Keep the money here.

 

What are you smoking this morning? Is it domestic?

[AllseeingEye]

Bear in mind this is not a done deal yet as regulators pour over the details; it may take a year to consummate assuming approval is forthcoming. the big question about the deal will be how the that regulatory approval works out from a competition perspective. As part of the regulatory approval it is possible that RBC might have to divest in some businesses. Very much TBD at this point.

 

We are already one of the most concentrated global banking markets where the top half dozen lenders - RBC foremost among them - control about 80% of o/s loans in this country. This deal will accelerate that concentration of course, boosting RBC's assets by over $130 billion to two trillion $'s, and add about 130 branches to its existing domestic network, in addition to nearly 800,000 customers. Those who follow these things probably remember the last significant banking merger/acquisition in this country, the sale of ING to ScotiaBank about a decade ago,

 

RBC did pay a premium buck for this business - roughly 30% - over what many London money analysts had attributed the actual value of HSBC's Canadian business. HSBC as it turns out was under significant pressure by its largest (Chinese) institutional investor to split off its Asian business to boost $ returns - naturally!

 

I worked on a IT security contract for HSBC a few years ago; they struck me as innovative, lean, motivated, above all extremely technology aware and savvy. I was impressed with the operation, those aspects at least that I was exposed to. This is certainly good news for HSBC investors who were seriously upset when HSBC cut back its dividends in 2020.....and I'm sure my RBC shares ultimately will be fine too

[Nparker]

Bear in mind this is not a done deal yet as regulators pour over the details; it may take a year to consummate assuming approval is forthcoming...

I imagine the speed of approval will be predicated on how quickly and how much RBC donates to the federal Liberal Party.

[Matt R.]

RBC has pulled out of Esquimalt, Chek says there are no banks in e town or vic west anymore. Is that right?

Anyways, that bakery needs to put in an atm, stat. Great place to hide all their $20’s and make a few bucks too.

Edit: it’s been drawn to my attention how small that place is, I guess they couldn’t spare a plug and 3 square feet.

https://www.cheknews...change-1132741/

Edited by Matt R., 14 January 2023 - 11:35 AM.

[sdwright.vic]

RBC is shutting (or has shuttered) the Burnside at Tillicum branch as well.

[Victoria Watcher]

When will the narrative that "seniors need banks" end?

 

I know lots of seniors doing just fine with online options.

 

I got my my first ATM card in the very early 80's.  Haven't most seniors now adapted?

 

ATMs were going well in the 70's, and debit cards started in 1988, I'm told:

 

https://www.rcinet.c...e-finally-meet/

 

 

 

$30

 

Maximum amount of money the first ATMs could spit out in a single transaction. A CIBC newspaper ad from January, 1970, boasted that consumers could get the "$30 packets" any time of the day or night from its gleaming machines. Today, the maximum amount of cash a bank machine will spit out corresponds to the daily limit on your account. 

 

https://www.theglobe...article1205709/

Edited by Victoria Watcher, 14 January 2023 - 12:25 PM.

[Nparker]

...I got my my first ATM card in the very early 80's.  Haven't most seniors now adapted?

Clearly, you have. 

[Victoria Watcher]

[Nparker]

It's a self-fulfilling prophecy. As more and more bank branches close, people are forced to do more of their business remotely.

[sebberry]

6 time in the last few months.  Once to deposit a small amount of cash and the remainder to set up a PLC and purchase bank drafts to pay my stupid strata. 

 

I like mobile cheque deposit.  I'm waiting for them to do the same with cash.

[Nparker]

Your strata hasn't figured out electronic payments?    

[lanforod]

Last time I stepped in any bank was 2016.

[Matt R.]

Weekly, at least.

[Mike K.]

I went to the local branch of my bank today.

Closed.

Apparently, it’s now closed on Sundays and Mondays.

[Nparker]

You're lucky. My "local" branch closed altogether.