Snowbirds alone weren't enough to keep Centura profitable?twa2w wrote:I think RBC made a mistake in selling the US branch network.
Royal Bank (Symbol-RY)
- Bylo Selhi
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Re: Royal Bank (Symbol-RY)
Sedulously eschew obfuscatory hyperverbosity and prolixity.
Re: Royal Bank (Symbol-RY)
A common flaw of corporate ego thinking that I've witnessed in my career. What was paid for it is irrelevant other than for tax writeoffs. But it is a human trait (look at how many posters here are reluctant to sell because they paid too much for it and cannot bear the loss, or OTOH still try to calculate/justify their current dividend rate on a low ACB).twa2w wrote:They were looking too hard at what they paid for it and the return they were getting on that price. They should have looked at the current value and said what is the upside from here.
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Re: Royal Bank (Symbol-RY)
I have a RBC USA account in Fl and had been thinking of moving to TD. I bank with TD in Canada and the TD branch is closer to me in Fl since the purchases TD made in the last 1 1/2 years. Neither bank is going to make much money from my banking in the US - mostly just on-going expenses for our place and gas purchases on my RBC USA credit card (it accesses our zip code at the pump). We mostly use our TD (Canada) US$ credit card and have the money deducted automatically from the account here.Bylo Selhi wrote:Snowbirds alone weren't enough to keep Centura profitable?twa2w wrote:I think RBC made a mistake in selling the US branch network.
Re: Royal Bank (Symbol-RY)
RBC Ranks First in Investor Satisfaction, J.D. Power Study Saystwa2w wrote:I think the cap markets/wealthmgnt side in the US is more competitive right now than branch banking is.
RBC Wealth Management, the unit of Toronto-based Royal Bank of Canada (RY) that oversees almost $200 billion for more than 350,000 households, won the highest satisfaction ranking in a survey of full-service investment firms’ customers, according to J.D. Power & Associates.
Re: Royal Bank (Symbol-RY)
Technically, RY has been showing support around 54.16 and resistance in the 59.95 range. It is upgraded to strong buy with the 70.02 target price in six months.
Check here:
"http://www.stoxline.com/quote.php?symbol=ry"
Check here:
"http://www.stoxline.com/quote.php?symbol=ry"
Stoxline.com
Re: Royal Bank (Symbol-RY)
Was anyone else surpirsed to see the presence TD has in the TD Boston Garden?Jaunty wrote:I bank with TD in Canada and the TD branch is closer to me in Fl since the purchases TD made in the last 1 1/2 years. ..
For the fun of it...Keith
- westinvest
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Re: Royal Bank (Symbol-RY)
I use RBC for their cross-border banking, with accounts at both RBC Canada and RBC USA. I received an email this morning that they intend to continue this service (eg: online transfers, US based credit card) and enhance it following the sale, so it would appear that there will be an ongoing business relationship.mpav wrote:Good move. US banking is just too competitive...let them focus on the capital markets/wealth management side.
Will be interested to see if they take equity in PNC, they are a good well run bank, and would be wise to still have some skin in the US...just let Americans run the show.
Re: Royal Bank (Symbol-RY)
Can you tell us more about this? Must you have a US address to open an account with RBC USA or can you open an account from Canada?westinvest wrote:I use RBC for their cross-border banking, with accounts at both RBC Canada and RBC USA. I received an email this morning that they intend to continue this service (eg: online transfers, US based credit card) and enhance it following the sale, so it would appear that there will be an ongoing business relationship.mpav wrote:Good move. US banking is just too competitive...let them focus on the capital markets/wealth management side.
Will be interested to see if they take equity in PNC, they are a good well run bank, and would be wise to still have some skin in the US...just let Americans run the show.
"Why do I have to go to school? If I watch YouTube I'll know everything."
- Grandson #2
- Grandson #2
- westinvest
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Re: Royal Bank (Symbol-RY)
The account can be opened in Canada, and no US address is required. It has the advantage that it uses the US banking system for cheques and for credit card transactions, which can be useful.
More info here: http://www.rbcbankusa.com/specialtybank ... 96799.html
Previous discussions:
http://www.financialwisdomforum.org/for ... 8&t=113089
http://www.financialwisdomforum.org/for ... 8&t=109415
http://www.financialwisdomforum.org/for ... 5&t=101812
and others ...
As a senior, the Canadian side account is free. The US side is free with minimum balances.
More info here: http://www.rbcbankusa.com/specialtybank ... 96799.html
Previous discussions:
http://www.financialwisdomforum.org/for ... 8&t=113089
http://www.financialwisdomforum.org/for ... 8&t=109415
http://www.financialwisdomforum.org/for ... 5&t=101812
and others ...
As a senior, the Canadian side account is free. The US side is free with minimum balances.
Last edited by Peculiar_Investor on 07 Feb 2014 07:04, edited 1 time in total.
Reason: replace old domain name with www.financialwisdomforum.org to reflect new domain name effective 19-Jan-2014
Reason: replace old domain name with www.financialwisdomforum.org to reflect new domain name effective 19-Jan-2014
Re: Royal Bank (Symbol-RY)
I am a winter Texan. I opened an account with the USA RBC. After a few months I found no reason for contining with this account and I closed it.
Re: Royal Bank (Symbol-RY)
zinfit, did you at least get a free toaster out of the deal
Re: Royal Bank (Symbol-RY)
It appears that Royal Bank have agreed to sponsor the PGA Heritage Golf Tournament that is held each year at Harbourtown links at Hilton Head Island, SC. The tournament has been without a sponsor since late 2009 when Verizon dropped the sponsorship.
This is a quotation from the press release:
If this report is accurate, it appears that RBC will go ahead with the sponsorship.
This is a quotation from the press release:
Not sure if Mr. Little knows his company's US operations just got soldRBC's Jim Little, the chief brand and communications officer, said the Heritage sponsorship will help build the company's U.S. presence. "The RBC Heritage provides very attractive opportunities for our U.S. businesses to reach target markets and foster new business development," he said.
If this report is accurate, it appears that RBC will go ahead with the sponsorship.
- Shakespeare
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Re: Royal Bank (Symbol-RY)
They still have the wealth-management business, for which championship golf is a target audience.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: Royal Bank (Symbol-RY)
No toaster and a useless account. I am surprised they haven't thought through their USA banking strategy. There is plenty of dissatisfaction about banking services for Canadian snowbirds . Any Canadian bank could have done very well in exploiting this opportunity.
- westinvest
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Re: Royal Bank (Symbol-RY)
RBC is now sending out the details of the transition of their cross border banking. The "enhancement" appears to be the $19.95 monthly service fee for the preferred chequeing, which was formerly free with min balance of $5K. To quote the package:westinvest wrote: I use RBC for their cross-border banking, with accounts at both RBC Canada and RBC USA. I received an email this morning that they intend to continue this service (eg: online transfers, US based credit card) and enhance it following the sale, so it would appear that there will be an ongoing business relationship.
"To simplify and avoid the need to track monthly minimum balance
requirements, our new packages remove these qualifiers and reduce
the monthly maintenance fee."
Simplify it is. Bye....
Re: Royal Bank (Symbol-RY)
Springbok wrote:It appears that Royal Bank have agreed to sponsor the PGA Heritage Golf Tournament that is held each year at Harbourtown links at Hilton Head Island, SC. The tournament has been without a sponsor since late 2009 when Verizon dropped the sponsorship.
This is a quotation from the press release:Not sure if Mr. Little knows his company's US operations just got soldRBC's Jim Little, the chief brand and communications officer, said the Heritage sponsorship will help build the company's U.S. presence. "The RBC Heritage provides very attractive opportunities for our U.S. businesses to reach target markets and foster new business development," he said.
If this report is accurate, it appears that RBC will go ahead with the sponsorship.
They only sold their US branch network, they still have a huge wealth management business and capital markets buisness in the US that dwarfs a lot of their peers here....actually in many cases it is comparable to global players....one slide from a investment package had them in the top ten globally for wealth management (not sure how it was measured).
I suspect to do investment/corporate banking and trading you still need a lot of name recognition...so they will keep that stuff up. Now RBC arena in Carolina might be another story.
Re: Royal Bank (Symbol-RY)
I also decided to close my RBC USA account after noticing the new monthly fee. There must be a lot of people closing their RBC Access USA accounts as a result of unhappiness with the fee as the customer service rep who handled my call when I tried to close my account offered to waive the monthly fee for a year _and_ removed the minimum balance requirement. I imagine you can get the same deal as I got.westinvest wrote:RBC is now sending out the details of the transition of their cross border banking. The "enhancement" appears to be the $19.95 monthly service fee for the preferred chequeing, which was formerly free with min balance of $5K. To quote the package:westinvest wrote: I use RBC for their cross-border banking, with accounts at both RBC Canada and RBC USA. I received an email this morning that they intend to continue this service (eg: online transfers, US based credit card) and enhance it following the sale, so it would appear that there will be an ongoing business relationship.
"To simplify and avoid the need to track monthly minimum balance
requirements, our new packages remove these qualifiers and reduce
the monthly maintenance fee."
Simplify it is. Bye....
- Jeebuz -
- Shakespeare
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Re: Royal Bank (Symbol-RY)
Down almost $2 today. If it gets below $50, I might add some.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: Royal Bank (Symbol-RY)
Did you buy at $49.99 today?Shakespeare wrote:Down almost $2 today. If it gets below $50, I might add some.
Live like you are dying but invest like you are immortal.
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"Men do not quit playing because they grow old ; they grow old because they quit playing" Oliver Wendell Holmes
- Shakespeare
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Re: Royal Bank (Symbol-RY)
I did two purchases this morning on COS and SJR.B. Others can wait until next week.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: Royal Bank (Symbol-RY)
Have been mulling both of these equities for the past week. Both seem undervalued to me with COS a bit more risky.Shakespeare wrote:I did two purchases this morning on COS and SJR.B. Others can wait until next week.
How do you classify SJR.B in terms of asset allocation within your portfolio?
There were two sexy news stories today regarding BCE and Telus - I am sure you know both the stories - any thoughts on those news items?
Re: Royal Bank (Symbol-RY)
If I heard correctly, this just in, Heard now on BNN, rumur has it Royal bank will maybe downgraded after the bell by Moody's !
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
Re: Royal Bank (Symbol-RY)
You heard right Brian. 15 Major Investment Banks See Ratings Cut by Moody's (including Royal Bank Of Canada)BRIAN5000 wrote:If I heard correctly, this just in, Heard now on BNN, rumur has it Royal bank will maybe downgraded after the bell by Moody's !
Re: Royal Bank (Symbol-RY)
From CBC
Moody's cut RBC's long-term deposit rating by two notches to Aa3, saying it faces a high probability of needing government support because of the exposure of its global investment banking operations to a possible financial crisis.
A downgrade usually means that it becomes more costly for banks to raise money by selling debt. Investors demand higher interest for riskier debt, which is what the downgrades represent.
The Royal Bank said the downgrade will not affect its clients and will have a minimal impact on its business.
"RBC remains one of the strongest and highest rated banks in the world. That category crosses a number of classifications in terms of credit ratings, in terms of capital base and in terms of balance sheet," the bank said in a statement.
"While Moody's has changed their overall view of the capital markets industry, RBC Capital Markets has been consistently profitable, thanks to a strategic and measured approach to growth and prudent risk management," RBC said in a statement.
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