RBC Has Plans for Consumer Bank in 2020

RBC shared during an earnings call last week that they intend to launch a direct-to-consumer bank in the US in 2020; they hope to bring in more customers by offering the affluent higher interest rates as they continue to focus on ultra high net worth clients; the bank did not say whether the offering will be branded under RBC or City National; the launch comes at a time with ever increasing competition from a long list of reputable brands; American Banker digs further into their plans and the competitive landscape. American Banker

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