BNN reports that Royal Bank of Canada is considering opening the door to fund the pot industry. This follows on the heels of a few other major banks like CIBC and Bank of Montreal BMO who have tentatively entered the space.
As BNN reports:
Royal Bank of Canada (RY.TO 0.07%) is slowly opening the door to funding marijuana companies but still isn’t ready to fully jump into the nascent sector, an executive of the country’s largest bank by market capitalization said Wednesday.
Speaking at the National Bank Financial Services Conference in Montreal, RBC Capital Markets Group Head Doug McGregor said the bank has figured out the cannabis business but has yet to act on any financing or supporting activities. He added that if it does decide to pull the trigger, the marijuana company would have to meet very specific requirements
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RBC may slowly open door to funding pot industry, exec says - BNN
