An Ontario man says he was blindsided when the Royal Bank of Canada (RBC) suddenly cut ties with him after nearly 30 years as a client.

Tomas Nassab of Alliston told CTV News he had lines of credit, investments, and family accounts with RBC, but received a letter advising that the bank would be closing all his accounts within 30 days.

The letter stated: “We are no longer in a position to continue our banking relationship with you.”

Complaints About Service Sparked Tensions

Nassab believes the closure followed complaints he made to branch managers about difficulties accessing in-person service for his investments.

“I made reasonable, tempered complaints,” he said. “Instead of better service, I was told to leave the bank.”

He described the decision as “disappointing” and said he hopes RBC will reconsider or at least explain why his relationship was terminated.

RBC Responds

In a statement to CTV News, RBC confirmed that either the client or the bank can choose to end a relationship.

“Decisions regarding client relationships are never made lightly,” RBC said, adding that when such steps are taken, customers are given time to transition to another institution.

The bank declined to comment on Nassab’s specific case.

Why Can Banks Close Accounts?

Canadian banks may close accounts for reasons such as:

• Suspicion of money laundering or fraud

• Policy violations

• Abusive or inappropriate behaviour toward staff

Financial institutions are not legally required to explain the specific reason for ending a relationship but must give clients sufficient time to move their funds.

Customers who feel wrongfully “un-banked” can escalate complaints to the Ombudsman for Banking Services and Investments (OBSI).

Nassab’s Message

For Nassab, the experience has left him frustrated and uncertain.

“We’ve built a great portfolio and always treated the bank with respect. To be removed completely with zero explanation, it’s very disappointing,” he said.

The post Ontario Man Says RBC Closed His Accounts After 30 Years Without Clear Reason first appeared on Maple News Wire.

BMO Capital has raised its Toronto-Dominion Bank (TD) price target to C$107 from C$102, maintaining an Outperform rating. The bank has delivered a 55.46% return year-to-date, trading near its 52-week high of $79.83.

The upgrade follows TD Bank’s investor day, where it reaffirmed a medium-term EPS growth target of 7-10% and a return on equity target of approximately 16% based on a CET1 ratio of 13%.

Strong Earnings Drive Confidence

BMO Capital cited higher-than-expected U.S. retail earnings and robust share buybacks as key drivers for raising the 2026 EPS estimate from $8.45 to $8.80. TD also committed $6-7 billion in share buybacks and projected US$2.9 billion in U.S. Retail earnings.

Eight analysts recently raised earnings estimates, highlighting investor confidence. TD continues its dividend tradition with a current yield of 3.78%.

Operational Efficiency and Growth

TD Bank aims to achieve positive operating leverage with a non-interest expense ratio in the mid-50s range. Non-restructuring programs support this efficiency, according to BMO Capital’s analysis. Anti-money laundering remediation was identified as a top priority.

Recent Quarterly Performance

TD Bank reported Q3 2025 earnings that exceeded expectations. EPS reached $2.20, beating the forecasted $2.04—a 7.84% surprise. Revenue came in at $15.61 billion, surpassing the anticipated $13.73 billion by 13.69%.

While the stock reacted positively in pre-market trading, it opened slightly lower during the regular session. No major mergers or acquisitions were reported, and analysts have issued no recent upgrades or downgrades.

TD Bank’s strong quarterly results, robust EPS growth, and strategic buybacks underline its solid financial position and investor appeal.

Stay tuned to Maple Wire Now for the latest updates on Canadian banks and market developments.

The post TD Bank Price Target Raised to C$107 by BMO first appeared on Maple News Wire.