Royal Bank of Canada Posts Record Profit as Tariffs Loom
Royal Bank of Canada reported net income of $6.0 billion in fiscal third quarter, up 11% year over year, with revenue rising 9% to $18.538 billion. Wealth and Capital Markets earnings increased on stronger client assets and deal activity. Management also flagged progress toward AI value goals. Credit loss provisions rose to $1.0 billion as gross impaired loans climbed.