Dominion Lending Centres Clearlease Reports RBC (TSX:RY) declines comment on reports that it’s looking at sale of U.S. retail arm

Thursday, April 7th, 2011

medameds. Dominion Lending Centres, NEL, sale of Royal Bank (TSX:RY) U.S. retail arm, Clearlease.com, Reports RBC (TSX:RY), TSX:RY,

TORONTO – (April 7, 2011) Clearlease.com Reports any sale of assets from Royal Bank’s (TSX:RY) U.S. operations would “remove a big factor” that has weighed on the share price of Canada’s largest bank, one analyst said Thursday as reports emerged that it is contemplating the sale of its U.S. banks.

Bloomberg News has reported that the Toronto-based bank was seeking buyers for its U.S. consumer and business operations, which are focused in the U.S. Southeast, an area particularly affected by an ongoing housing market crisis.

An RBC spokeswoman said the bank is committed to its U.S. growth strategy and declined further comment.

However, Barclays Capital analyst John Aiken said that a potential sale of its U.S. banking operations would be positive for the bank’s earnings and share valuation.

“We would anticipate that should the deal go through, the international segment would be immediately much more profitable, supporting the bank’s overall profitability metrics,” he wrote in a note to investors.

“This stems from the pressure that its U.S. retail banking has faced, being located in the U.S. Southeast, one of the harder hit areas in the real estate declines experienced by the U.S. over the past few years.”

Many of Canada’s big five banks, including Royal, Bank of Montreal (TSX:BMO) and TD Bank (TSX:TD), have been experiencing difficulty with their expansion into the U.S., which was hit worse than Canada during the 2008-2009 financial downturn and ensuing credit crisis.

However, Royal has been less optimistic than its peers about a recovery in the U.S. banking sector.

The bank has said its U.S. division, which suffered from the economic downturn, continues to present a challenging environment for retail bankers, though it is showing some signs of improvement.

Royal’s CEO Gordon Nixon told the bank’s annual meeting last month that it is reviewing its U.S. options, including the possibility of selling some assets in the country, which is still embroiled in a housing market crisis amid continuing high unemployment.

However, he added that its main priority remains improving operations, to make any merger or acquisition prospect more attractive.

Its international operations returned to profitability in the first quarter, which was faster than the bank had anticipated, after three years of net losses. The bank said the return to profitability was buoyed largely by its jointly-owned RBC Dexia investor services division and its Caribbean bank business.

In the first quarter, earnings from the segment were $24 million in the quarter against $1.8 billion for the total bank, but a loss of $57 million a year ago against a profit of $1.5 billion for the whole bank in 2010.

As a result, Aiken said, the impact of a sale on earnings would not likely be material; “it would reduce a headwind and remove a big factor negatively influencing sentiment towards the stock.”

He noted that Centura Bank’s operations have become significantly less of a factor in RBC’s overall operations in the past couple years.

Aiken believes RBC’s Carribean banking operations and its RBC Dexia joint venture would likely not be included in any deal.

Royal Bank is the country’s largest bank by assets and market capitalization, and has 77,000 employees serving more than 18 million clients. The bank has operations across Canada, the United States and more than 50 other countries.

Shares in RBC were down nine cents at $60.19 at mid-day Thursday on the Toronto Stock Exchange.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

We offer a simple application process available at http://clearlease.com/How-to-Apply.html .

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

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Dominion Lending Centres Clearlease Reports More than half of young adults waiting till next year to buy home: RBC survey (NYSE: RY)

Thursday, April 7th, 2011

Dominion Lending Centres Clearlease Reports More than half of young adults waiting till next year to buy home: RBC survey (NYSE: RY) Royal Bank of Canada, RBC, RBC Lending, (NYSE: RY), RBC Lease, Dominion Lending Centres

TORONTO, Ont. – (April 7, 2011) Clearlease.com Reports today that young adults are the most likely age group to buy a home in the next two years but more than half of those surveyed think the time isn’t right yet.

A poll done for Royal Bank of Canada Royal Bank Of Canada (NYSE: RY) found 55 per cent of respondents aged 18 to 34 said it makes sense to delay a home purchase until next year.

But 43 per cent of the young adults responding to the Ipsos Reid survey said they were looking to buy in the next two years.

That’s higher than the national average of 29 per cent for all age groups, who were surveyed in mid-January.

In comparison, only 29 per cent of Canadians aged 35 to 54 said they want to buy within two years and only 17 per cent of respondents over 55 were looking.

The survey found that the biggest concerns for young adults were having a good down payment and rising real-estate prices.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

We offer a simple application process available at http://clearlease.com/How-to-Apply.html japans online pharmacy. .

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

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