4 Banks to Gain from Visa Restructuring

RBC Capital Markets, 4 October 2007Visa Inc. announced yesterday that it completed a restructuring whereby members would receive shares in Visa Inc. An initial public offering is expected to follow.CIBC, Royal Bank, TD Bank and Scotiabank announced they they expect to record gains in Q4/07 as a result. Bank of Montreal and National Bank are Mastercard issuers, and should not benefit from the Visa