RBC Financial Group News

The refinancing, the closing of which is effective as of 24 May 2012, represents a consolidation of and increase to separate asset-based loans that Artaflex and its predecessor Adeptron Technologies Corporation each previously held with RBC.

Japan's Nikko Asset Management and U.S.-based Principal Financial Group are among the suitors to advance to the next round of bidding for ING Groep's Asia asset management business in a deal that could be worth up to $600 million, sources familiar with the matter said.

Minister of Trade and Industry Stephen Cadiz does not believe the current economy can sustain a $7,000 minimum wage for public servants.

Eldorado Gold Corp. . Miner. Down three cents, or 0.25 per cent, at $11.96 on 6,700,702 shares.

In addition, RBC will earn interest income of after-tax) related to a refund of taxes paid in previous years.

Royal Bank of Canada says it can release $130 million in provisions set up to deal with uncertainty surrounding several tax matters.

Royal Bank of Canada said on Monday it has resolved several tax matters, allowing it to release about C$130 million previously set aside for potential tax payments.

The Bank of Nova Scotia , together with its subsidiaries, offers various personal, commercial, corporate, and investment banking services in Canada and internationally.

The analysts wrote, "One of the negative surprises in the quarter was an uptick in commercial credit losses that RY attributed to two specific loans.

The presentation and a link to the live video webcast will be available on RBC's website at rbc.com/investorrelations/ir_events_presentations.html on the day of the event.

Domestic banking profit growth will slow in the second half of the year as household debt rises and concerns about a crisis in Europe curb demand for loans, even as some of the lenders report better-than-expected second-quarter earnings.

The Financial Times reports that some Commerzbank investors were upset at the firm's annual meeting earlier this week that the bank has scrapped the $629,000 salary cap that has been in place for management board members since Commerzbank received German government state aid in 2008.

TD and Bank of Montreal dropped their five-year rates by a tenth of a percentage point to 5.34 per cent, matching a rate announced Wednesday by the Royal Bank .

Banco Bilbao Vizcaya Argentaria SA is mulling a divestiture of its pension unit in Latin America, which it says is 'attractive, but non-core'. No rush, however, as the bank indicates that the strategic review will take more than one quarter, with a decision not likely in the current year.

The Toronto stock market was higher for a third day Thursday as investors continued to buy up stocks beaten down in a sharp sell-off over the past three weeks.

Royal Bank of Canada and Toronto- Dominion Bank , the country's two-largest lenders by assets, posted higher second-quarter profit as consumer lending rose.

Canada's largest bank made $1.56-billion, or $1.01 a share, on continuing operations in the quarter, which was slightly lower than what analysts were expecting.

Royal Bank of Canada says its second-quarter profit from continuing operations was $1.56 billion, but would have been higher without a loss associated with its acquisition of the remaining half of RBC Dexia.

A small group of market wonks is planning a trading platform targeting a category of investors they say has been overlooked by traditional stock exchanges: mutual-fund managers.

A Canadian college graduate has paid off his six-figure student loan in cash and then posted the receipt on the internet.