August 25, 2021
TORONTO (Reuters) – Royal Bank of Canada beat analysts’ estimates for quarterly profit on Wednesday, after it released reserves set aside to cover credit losses and as the lender saw strong growth across its banking, wealth management and capital markets units.
Canada’s largest lender by market value reported overall net income of C$4.3 billion ($3.41 billion), or C$2.97 per share, in the three months ended July 31, up from C$3.2 billion, or C$2.20 per share, a year ago, and compared with analysts’ expectations of C$2.63 per share.
($1 = 1.2598 Canadian dollars)
(Reporting by Noor Zainab Hussain in Bengaluru and Nichola Saminather in Toronto; Editing by Amy Caren Daniel)