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Major Canadian bank says “no thank you” to foreign capital

Major Canadian bank says “no thank you” to foreign capital

No apologies were uttered by Royal Bank of Canada CEO David McKay when he declared his stance on foreign investment at a recent bank conference. “We do not need foreign capital using Canadian real estate as a piggy bank,” said McKay, according to Bloomberg. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents — no thank you.” McKay’s bank, RBC, is the […]


Source: realdeal

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