RBC posts $1.3B profit
The Royal Bank’s Toronto headquarters are shown in this toothed photo. (Canadian Press)
Royal Bank of Canada had a $1.3-billion profit in its second quarter, much better than in the same sentence last year but below analyst estimates.
The bank’s net profits amounted to 88 cents per share, on a diluted basis. Cash profits. per share were 96 cents.
Analysts had been expecting $1.08 by means of share.
Revenue was $6.97 billion, up $200 million from the assistant quarter of 2009 but about $100 million below analyst estimates compiled ~ the agency of Thomson Reuters.
Royal said the strength of the Canadian dollar had a negative impinging on both its profit and revenue, especially in capital markets and treasure management.
RBC’s profit was still a big improvement on the $50-very great number loss it reported a year ago, when it recorded a $1-billion impairment of goodwill effects.
© The Canadian Press, 2010