RBC may set up shop in Cuba

RBC CEO David McKay says America and Cuba’s renewed diplomatic relations are an opportunity for his bank to return to the island, reports The Toronto Star.

Read: U.S. loosens Cuban banking restrictions

McKay says the bank has been planning for the opportunity to re-enter Cuba for some time. He told The Star that some of their recent strategic decisions have been setting the bank up for a return to the country.

In 1899, RBC opened its first office in Cuba. In 1960, it shut its banks on the island, and in 1965, shuttered its last office.

Read more here.

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