Royal Bank of Canada’s Strong Earnings and Growth
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Royal Bank Of Canada (TSE:RY) has released an update.
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Royal Bank of Canada reported a 11% increase in net income to $16.2 billion for the fiscal year ended October 2024, driven by growth across all business segments, including the newly acquired HSBC Bank Canada. The bank’s robust earnings were supported by higher net interest income, improved fee-based revenue, and a strong balance sheet, despite increased provisions for impaired loans. RBC also declared a quarterly dividend increase, highlighting its commitment to returning capital to shareholders.
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