AGL 37.85 Decreased By ▼ -0.09 (-0.24%)
AIRLINK 192.04 Decreased By ▼ -1.87 (-0.96%)
BOP 8.90 Decreased By ▼ -0.42 (-4.51%)
CNERGY 5.76 Decreased By ▼ -0.08 (-1.37%)
DCL 8.32 Decreased By ▼ -0.36 (-4.15%)
DFML 35.12 Decreased By ▼ -1.34 (-3.68%)
DGKC 93.60 Increased By ▲ 1.06 (1.15%)
FCCL 33.50 Decreased By ▼ -0.47 (-1.38%)
FFBL 81.30 Decreased By ▼ -1.00 (-1.22%)
FFL 12.53 Decreased By ▼ -0.22 (-1.73%)
HUBC 119.00 Decreased By ▼ -1.61 (-1.33%)
HUMNL 13.30 Decreased By ▼ -0.30 (-2.21%)
KEL 5.05 Decreased By ▼ -0.17 (-3.26%)
KOSM 6.40 Decreased By ▼ -0.12 (-1.84%)
MLCF 42.40 Increased By ▲ 0.29 (0.69%)
NBP 59.31 Decreased By ▼ -0.50 (-0.84%)
OGDC 209.10 Decreased By ▼ -2.07 (-0.98%)
PAEL 37.00 Decreased By ▼ -0.58 (-1.54%)
PIBTL 8.00 Decreased By ▼ -0.07 (-0.87%)
PPL 188.50 Decreased By ▼ -1.82 (-0.96%)
PRL 37.65 Decreased By ▼ -0.52 (-1.36%)
PTC 23.60 Increased By ▲ 0.15 (0.64%)
SEARL 95.99 Decreased By ▼ -1.95 (-1.99%)
TELE 8.09 Decreased By ▼ -0.13 (-1.58%)
TOMCL 34.67 Decreased By ▼ -0.36 (-1.03%)
TPLP 13.40 Decreased By ▼ -0.15 (-1.11%)
TREET 21.35 Decreased By ▼ -1.38 (-6.07%)
TRG 53.55 Increased By ▲ 0.68 (1.29%)
UNITY 32.61 Decreased By ▼ -0.35 (-1.06%)
WTL 1.49 Decreased By ▼ -0.03 (-1.97%)
AGL 37.85 Decreased By ▼ -0.09 (-0.24%)
AIRLINK 192.04 Decreased By ▼ -1.87 (-0.96%)
BOP 8.90 Decreased By ▼ -0.42 (-4.51%)
CNERGY 5.76 Decreased By ▼ -0.08 (-1.37%)
DCL 8.32 Decreased By ▼ -0.36 (-4.15%)
DFML 35.12 Decreased By ▼ -1.34 (-3.68%)
DGKC 93.60 Increased By ▲ 1.06 (1.15%)
FCCL 33.50 Decreased By ▼ -0.47 (-1.38%)
FFBL 81.30 Decreased By ▼ -1.00 (-1.22%)
FFL 12.53 Decreased By ▼ -0.22 (-1.73%)
HUBC 119.00 Decreased By ▼ -1.61 (-1.33%)
HUMNL 13.30 Decreased By ▼ -0.30 (-2.21%)
KEL 5.05 Decreased By ▼ -0.17 (-3.26%)
KOSM 6.40 Decreased By ▼ -0.12 (-1.84%)
MLCF 42.40 Increased By ▲ 0.29 (0.69%)
NBP 59.31 Decreased By ▼ -0.50 (-0.84%)
OGDC 209.10 Decreased By ▼ -2.07 (-0.98%)
PAEL 37.00 Decreased By ▼ -0.58 (-1.54%)
PIBTL 8.00 Decreased By ▼ -0.07 (-0.87%)
PPL 188.50 Decreased By ▼ -1.82 (-0.96%)
PRL 37.65 Decreased By ▼ -0.52 (-1.36%)
PTC 23.60 Increased By ▲ 0.15 (0.64%)
SEARL 95.99 Decreased By ▼ -1.95 (-1.99%)
TELE 8.09 Decreased By ▼ -0.13 (-1.58%)
TOMCL 34.67 Decreased By ▼ -0.36 (-1.03%)
TPLP 13.40 Decreased By ▼ -0.15 (-1.11%)
TREET 21.35 Decreased By ▼ -1.38 (-6.07%)
TRG 53.55 Increased By ▲ 0.68 (1.29%)
UNITY 32.61 Decreased By ▼ -0.35 (-1.06%)
WTL 1.49 Decreased By ▼ -0.03 (-1.97%)
BR100 11,398 Increased By 14.4 (0.13%)
BR30 35,181 Decreased By -30.1 (-0.09%)
KSE100 105,686 Decreased By -589.4 (-0.55%)
KSE30 33,119 Decreased By -234.6 (-0.7%)

Royal Bank of Canada on Wednesday reported a forecast-beating 17 percent jump in fourth-quarter earnings, helped by growth in its retail banking and wealth management divisions. Canada's biggest lender by market value posted earnings per share of C$2.20 in the three months to Oct. 31, ahead of a consensus analyst forecast of C$2.12, according to IBES data from Refinitiv.
The bank reported a 15 percent increase in net income to C$3.25 billion ($2.45 billion) during the quarter. That included a 10 percent rise in net income from retail banking to C$1.54 billion, benefiting from improved margins and growth in residential mortgages, commercial lending and deposits. Like other Canadian banks, RBC has benefited from the Bank of Canada hiking interest rates five times since last summer.
RBC reported a 13 percent increase in net income at its wealth management business to C$553 billion, reflecting higher average fees from clients. Net income from insurance rose 20 percent from a year ago to C$318 million. The bank's investment banking business increased net income by 14 percent from a year ago to C$666 million, driven by beneficial US tax reforms and higher trading revenue arising from market volatility.
For the full year, RBC reported record net income of C$12.4 billion, up 8 percent on the year before. The bank's core tier 1 ratio, a key measure of its financial strength, rose 60 basis points during the year to 11.5 percent. Toronto-Dominion Bank, RBC's biggest rival, reports fourth-quarter earnings on Thursday. Bank of Nova Scotia on Tuesday reported earnings which missed market expectations.

Copyright Reuters, 2018

Comments

Comments are closed.