September 5, 2018 / 3:24 PM / 2 months ago

Canada's RBC says it's interested in more U.S. acquisitions

FILE PHOTO: A Royal Bank of Canada (RBC) sign is seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo

TORONTO (Reuters) - Royal Bank of Canada (RY.TO) is interested in making further acquisitions in the United States, having purchased Los Angeles-based City National in 2015, but current valuations make deals challenging, its chief executive said.

“Certainly we would look at an acquisition and we’re going through the same process as we did with City National. We’re studying potential partners,” Dave McKay told the Scotiabank Financials Summit on Wednesday. “The challenge today is there is a disconnect with the market prices, and we’re disciplined.”

Reporting by Matt Scuffham; editing by Jonathan Oatis

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