RBC Sees Limited Opportunities for US Deals in Short Term (1)

Royal Bank of Canada is interested in adding to its US business through wealth-management and commercial-banking acquisitions, but deals south of the border are hard to come by, Chief Executive Officer Dave McKay said.

Speaking Tuesday at a conference in Toronto hosted by RBC Capital Markets, McKay said that while US mergers aren’t an immediate priority, the region will continue to be a focus for Canada’s largest lender.

Dave McKay

Photographer: Christinne Muschi/Bloomberg

McKay was asked how Royal Bank plans to deploy excess capital over the next few years after it completes its landmark C$13.5 billion ($10.1 billion) deal to acquire HSBC Holdings Plc ...