Royal Bank of Canada (RBC) reported a robust second-quarter performance, posting a net income of $4.4 billion, a notable rise from $3.95 billion during the same period last year.
Earnings per diluted share increased to $3.02, up from $2.74 a year ago. On an adjusted basis, RBC earned $3.12 per diluted share, compared to $2.92 last year. However, the adjusted earnings slightly missed analyst expectations of $3.19 per share, based on estimates from LSEG Data & Analytics.
Total revenue climbed to $15.67 billion, up from $14.15 billion year-over-year, highlighting steady growth across key business lines. Meanwhile, the bank set aside $1.42 billion in provisions for credit losses, marking an increase from $920 million in the previous year.
This financial update reflects RBC’s continued resilience despite higher credit risk allocations.
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News Source: Finance.yahoo.com
