TORONTO — R小蓝视频 is reopening HS小蓝视频 Canada branches under its own brand on Monday after closing its takeover of the bank last week.
Ahead of the deal closing, R小蓝视频 said it would also be shuttering 25 of HS小蓝视频 Canada's roughly 130 branches as part of its optimization of its branch network.
The $13.5-billion acquisition of what was Canada's seventh-largest bank means R小蓝视频 has taken on about 4,500 employees and 780,000 clients.
Chief executive Dave McKay says the takeover of HS小蓝视频 Canada comes at an important time for better connecting Canadian businesses and investors to international markets.
He says R小蓝视频 will be keeping important global banking capabilities in Canada while expanding them to all of the bank's clients.
Critics of the takeover have said it will affect consumer choice and competition in Canada's already concentrated banking sector.
This report by The Canadian Press was first published April 1, 2024.
Companies in this story: (TSX:RY)
The Canadian Press
