Royal Bank of Canada
on Thursday reported a rise in first-quarter profit and revenue, benefiting from strong performance at its personal and commercial banking and wealth-management segments.
In the three months ended Jan. 31, the bank said earnings per share were 2.84 Canadian dollars (US$2.23), up from C$2.66 a year earlier.
According to FactSet, analysts had been expecting C$2.70 a share.
Net income was C$4.1 billion, compared with C$3.85 billion a year earlier, it said.
In particular, net income at its personal and commercial banking segment rose 10% to C$1.97 billion, benefiting from higher noninterest income, while its wealth-management segment rose 24% to C$795 million, the bank said.
Return on common equity fell to 17.3% from 18.6%, while the company’s common equity Tier 1 ratio, a measure of the bank’s capital against its assets, rose to 13.5% from 12.5%, it said.
Total revenue rose to C$13.07 billion from C$12.94 billion, it said.
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