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(Gloria Nieto/The Globe and Mail)

RBC rules out U.S. personal banking acquisition

So much for all the rumours. Royal Bank of Canada won’t be buying a personal and commercial bank in the United States any time soon.

“We are not interested in [U.S.] mass market banking through a bricks and mortar model,” RBC president and incoming chief executive officer Dave McKay said on the bank’s quarterly conference call.