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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 792 |
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Due to the declining economy in the United States, RBC suffered many loan losses. They saw an increase of 73%, or $119 million in loan losses “due to higher impaired loans in residential-builder financing in California, Georgia and Arizona, as well as in the bank's U.S. commercial and retail loan portfolio...
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commercial and retail loan portfolio.â€2 . In total, loan losses increased by $131 million (81%) from last year. The rise of the Canadian dollar also impacted RBC in a negative way. Compared to last year, it ended up costing RBC $45 million dollars.
RBC’s Shareholders
The credit crisis in the United States began in August 2007...
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