The Globe and Mail reports in its Saturday edition that HSBC Holdings PLC said it completed the $13.5-billion sale of its Canadian unit, HSBC Bank Canada, to Royal Bank of Canada on Thursday. A Reuters dispatch to The Globe says that the transaction will result in the recognition of an estimated gain of $4.9-billion in the first quarter of 2024, HSBC said in a statement on Friday. RBC previously said the acquisition, which merges Canada's biggest and seventh-biggest lenders, will boost its domestic business as well as its position on the global stage. HSBC Canada's branches and offices will open for business on Monday, April 1 as RBC locations, RBC said in a separate statement. The merger, RBC's biggest, overcame opposition from environment and anti-monopoly groups as well as conservatives, who lamented the increasing concentration of the industry and the possibility of higher fees for consumers. Deals of this size in the banking sector have not been attempted in Canada since the early 1990s when RBC's bid for Bank of Montreal was blocked by regulators. RBC closed Thursday at $136.62, up 39 cents on the Toronto Stock Exchange; Friday was a holiday.