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Canadian banks seen hitting U.S. acquisition trail

Published 06/16/08 Economy In Crisis - Print Article
E-mail - editor@economyincisis.org

Source Reuters:

TORONTO (Reuters) - Canada's big banks have weathered the credit crunch in relatively good shape and should swoop in to buy some ailing U.S. banks, observers say.

Royal Bank of Canada (RY.TO: Quote, Profile, Research), the country's largest bank, and Bank of Montreal (BMO.TO: Quote, Profile, Research), the fifth largest by market value, are best positioned to make U.S. acquisitions, CIBC World Markets analyst Darko Mihelic said on Friday in a research note entitled "Fish or Cut Bait."

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