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Royal Bank (RBC): Net profit up 6% in the second quarter

Montreal (awp / afp) – The Royal Bank of Canada (RBC) announced a 6% increase in net income in the second quarter of its lagged 2018/2019 on Thursday, driven by strong growth in key business segments. activity.

Canadian Bank's first earnings reached $ 3.2 billion (€ 2.2 billion) for the quarter ended April 30, compared to just $ 3 billion a year ago

Exception per share was $ 2.20, which is one cent less than the analysts' average forecast.

The quarterly sales of the bank rose 12% to $ 11.5 billion (€ 7.7 billion).

These results reflect "strong profit growth" in the capital markets, retail and corporate sectors, and asset management, the bank said in a statement.

On the other hand, investments in insurance companies and insurance companies fell.

Retail and trading services alone posted a gain of more than $ 1.5 billion in the second quarter, driven by "strong deposit growth" and rising interest rates.

Royal Bank rated its position as "strong", with a Tier 1 share of 11.8%.

The Bank's assets, with more than 82,000 employees, amounted to $ 1,378 billion on April 30th.

TD Bank, Canada's second-largest bank, posted a 9% increase in net profit in the second quarter, to $ 3.2 billion.

AFP / rp

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