Royal Bank of Canada to sell Jamaica unit

TORONTO Wed Jan 29, 2014 8:14am EST

TORONTO Jan 29 (Reuters) - Royal Bank of Canada, the country's largest bank, said on Wednesday it has agreed to sell its Jamaican banking operations to Sagicor Group Jamaica Ltd.

Royal Bank did not disclose financial terms, but said it expects the deal to result in a C$60 million ($54 million) loss, partly because of a goodwill writedown.

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