Gordon Nixon, CEO of Royal Bank of Canada (RBC) told an investor conference in Toronto on 11 January that the “jury is out” on the future of RBC’s retail unit in the US.

“At this point in the cycle I am not sure what we would like to do in [the US] in the longer term” said Nixon.

He has in the past said that all options were on the table as regards its 426-branch-strong US division, concentrated in the in the South East of the US.

“We are starting to see our programme in the US generate improving results but retail banking in the US remains stressed across the system.”

He said that RBC had to be convinced that the bank could make its targeted return on investment before investing any further capital in the unit.

He said that "the jury is out" on what future returns will be.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

RBC’s international division reported a loss of C$317m ($319.5m) in fiscal 2010, compared with a loss of C$1.45bn in fiscal 2009.