U.S. banks BB&T Corp (BBT.N) and PNC Financial Services Group Inc (PNC.N) are among the potential buyers of Royal Bank of Canada's (RY.TO) struggling U.S. consumer banking business, according to a Bloomberg report on Thursday. RBC's U.S. retail bank has lost money for 10 straight quarters and has generally been a drag on earnings since RBC purchased North Carolina-based Centura Bank in 2001 for $2.2 billion (C$3.5 billion at the time). Royal Bank declined comment on the report on Thursday, but Chief Executive Gord Nixon said in January the bank was unsure whether it would eventually add to its U.S. retail banking business or retreat from it. The unit, rebranded RBC Bank in 2008, was hit hard by the U.S. real estate collapse and waves of foreclosures.
BB&T Corporation (BB&T) is a financial holding company. Shares of BBT traded higher by 1.26% or $0.33/share to $26.51. In the past year, the shares have traded as low as $21.72 and as high as $35.72. On average, 5596860 shares of BBT exchange hands on a given day and today's volume is recorded at 2434115.
The PNC Financial Services Group, Inc. (PNC) is a diversified financial services company in the United States. Shares of PNC traded higher by 0.37% or $0.23/share to $62.48. In the past year, the shares have traded as low as $49.43 and as high as $69.68. On average, 3570900 shares of PNC exchange hands on a given day and today's volume is recorded at 1320517.
Royal Bank of Canada (RBC) is a diversified financial services company and provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services. Shares of RY fell by 0.45% or $-0.28/share to $62.48. In the past year, the shares have traded as low as $46.04 and as high as $63.59. On average, 709995 shares of RY exchange hands on a given day and today's volume is recorded at 111197.
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