Royal Bank of Canada reports $4.49B Q3 profit, up from $3.86B a year ago
By The Canadian Press on August 28, 2024.
TORONTO – Royal Bank of Canada reported a third-quarter profit of $4.49 billion, up from $3.86 billion a year earlier. The bank says its net income amounted to $3.09 per diluted share for the quarter ended July 31 compared with a profit of $2.73 per diluted share in the same quarter last year. Revenue totalled $14.63 billion, up from $12.98 billion a year ago, while the bank’s provision for credit losses for the quarter amounted to $659 million, up from $616 million in the same quarter last year. RBC says the addition of HSBC Bank Canada increased its net income by $239 million for the quarter. On an adjusted basis, RBC says it earned $3.26 per diluted share, up from an adjusted profit of $2.83 per diluted share a year ago. The average analyst estimate had been for an adjusted profit of $2.97 per share, according to LSEG Data & Analytics. This report by The Canadian Press was first published Aug. 28, 2024. Companies in this story: (TSX:RY) 9-8
