Royal Bank of Canada has indicated it could spend more than C$1bn ($965m) on share buy-backs, underlining the contrasting financial health of Canada’s banks and many US and European counterparts. Canadian banks have built a sizeable capital cushion over the past 18 months through retained earnings and new equity and preferred-share issues. RBC said late on Friday that it intended to buy back up to 20m common shares, equal to 1.4% of the total outstanding.

This entry was posted by Gwen Robinson on Monday, October 19th, 2009 at 4:58 and is filed under Capital markets. Tagged with RBC. Edit this entry.