TORONTO: Royal Bank of Canada's Chief Executive Dave McKay said uncertainty over talks to update the North American Free Trade Agreement was a concern for the bank's customers but he remained hopeful a deal would be reached.
The United States, Canada and Mexico have been in talks for more than eight months to revamp NAFTA after US President Donald Trump threatened to abandon the pact unless it was reformed to his liking.
McKay said that so far, the bank's clients and financial markets had been "working through the uncertainty" and the bank was engaged in talks over NAFTA with officials of governments on both sides.
"We are in close dialogue with governments and our customers and remain hopeful of a good outcome for both sides," McKay told shareholders at the bank's annual meeting.
As well as being Canada's biggest lender, RBC has substantial operations in the United States where it generates 23 percent of its revenue.
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