Saturday , April 17 2021

Royal Bank of Canada broke record of $ 12.4 billion a year



The Royal Bank of Canada for the 2018 fiscal year saw a record profit of $ 12.4 billion, up 8% from the previous year, and said the lender increased with higher interest rates and lower taxes.

, Our diversified business and geographic mix have provided good revenue growth, we have carried out risk management in a prudent way, and we have made contributions to equity, yönetim said RBC president and CEO Dave McKay.

”Looking ahead, we focus on investing in our people and technology, and we offer more personalized insights and links to deliver more value to our customers and shareholders.“

Royal Bank CEO David McKay

Canada press

The Toronto-based bank recorded a particularly rapid growth in wealth management work for the year ended October 31. The unit posted an increase of 23 percent to $ 2.3 billion, compared to the 2017 financial year.

RBC said the jump was getting high interest rates and tax reform from the US with high average wage-earning customer assets.

In personal and commercial banking, RBC said net income increased 5 percent to $ 6 billion, which is supported by higher interest rates and higher credit card purchasing volumes.

The Bank also included the results of the fourth quarter ended October 31, which increased earnings by 15 percent to $ 3.25 billion, supported by the performance of the vast majority of lenders, including a 20 percent increase. . Annual net income for the insurance unit is $ 318 million.

RBC reported earnings per share of $ 2.20 for the quarter, up 17% from a year earlier, and recorded at $ 2.24 per share. The analyst managed to exceed expectations for a quarterly period by reporting earnings per share.

A note from Canaccord Genuity called for a den low quality low quality & rhythm.

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