3Q profit at Royal Bank of Canada (RBC) increased to $4.49bn, up from $3.86bn a year ago.

Royal Bank of Canada (RBC) has reported a 3Q profit of $4.49bn, up from $3.86bn a year ago. The bank's net income per diluted share reached $3.09 in the July 31 quarter, up from $2.73 in the same quarter last year. RBC's revenue totaled $14.63bn, up from $12.98bn a year ago. The bank's provision for credit losses rose to $659m, up from $616m in the same quarter last year. The addition of HSBC Bank Canada contributed $239m to RBC's net income in Q3. On an adjusted basis, RBC earned $3.26 per diluted share, up from $2.83 per diluted share a year ago, surpassing the average analyst estimate of $2.97 per share.

August 27, 2024
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