The acquisition is expected to be modestly accretive to earnings per share in the first year after closing. On an estimated Basel III basis, we expect our Common Equity Tier 1 ratio to remain above eight per cent following the close, given our strong capital position and internal capital generation. The transaction is subject to customary closing conditions, including regulatory and other approvals, and is expected to close in the first quarter of calendar Conference Call A conference call is scheduled to take place on October 23, , from a.
ET and will feature speeches by RBC senior executives followed by a brief question and answer period with analysts. Interested parties can access this call live on a listen-only basis via telephone using the following access numbers:. Local calls: North American toll-free: International toll-free: The passcode for access on all numbers is Please call between a.
The presentation material referenced during the call will be available on the website at www. A recording of the conference call will be available after a. It also plans to close down the high-interest savings accounts operated by Ally on April As part of the move, Royal Bank lowered the interest rates of existing Ally accounts to 1.
Before the purchase, Ally Financial's Canadian unit provided financing to nearly auto dealerships across the country. The finance company's consumer business had about , loans outstanding as of last October. Bidders are interested both in regions as well as just buying individual country businesses, the source said.
The Canadian operations equaled about 45 percent of international assets, the company said in May. The automaker expanded its lending capabilities in when it bought AmeriCredit Corp. Canadian banks have been eager to diversify their loan portfolios as signs of weakness in the Canadian housing market threaten growth of their residential mortgage businesses, which are their largest revenue stream.
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