PNC bank RBC

Hello sir I would like to know about the take over of RBC Bank by PNC so please provide me information about the same.

[Pathak]

PNC Financial Services Group, Inc. is an American financial services corporation, with assets of approximately $345.2 billion.

RBC Bank

It was the United States-based retail banking division of the Royal Bank of Canada.

The headquarters for the bank were in Raleigh, North Carolina.

Banking centers and automated teller machines were located throughout the Southeastern United States.

The company's largest operations were in North Carolina and Alabama.

Take over of RBC Bank by PNC

On June 19, 2011, PNC agreed to purchase RBC Bank from Royal Bank of Canada for $3.45 billion.

With 426 branches total, RBC Bank has a significant presence in southern Virginia, North Carolina, South Carolina, Georgia, Alabama, and Florida.

Of these regions, PNC had existing branches only in Florida which were rebranded when the National City merger occurred.

BB&T, which later acquired the parts of BankAtlantic that PNC did not buy, was also in talks to acquire RBC Bank.

RBC Bank

Former type-Subsidiary

Fate Acquisition by PNC Financial Services

Founded 2 November 1990

Rocky Mount, North Carolina

Defunct 2012

Headquarters Raleigh, North Carolina

Area served

Southeastern United States

Parent Royal Bank of Canada, PNC