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RBC Says Net Income Rose In Latest Quarter
Editorial Staff
28 February 2025
Toronto-headquartered Royal Bank of Canada yesterday said it logged net income of C$5.1 billion for the three months to January 31, rising 43 per cent from the same period a year earlier. Wealth RBC had a Common Equity Tier 1 capital ratio – a bank’s shock absorber – of 13.2 per cent.
The bank said that the inclusion of HSBC Bank Canada results – the business that RBC has bought – boosted the net income result by C$214 million.
Adjusted net income was $5.3 billion, rising 27 per cent.
In the wealth management side, RBC said net income of $980 million increased $316 million or 48 per cent from a year ago, mainly due to higher fee-based client assets reflecting market appreciation and net sales, which also drove higher variable compensation.