TORONTO — Royal Bank of Canada reported a first-quarter profit of $5.13 billion, up from $3.58 billion in the same quarter last year, helped by growth across its business and its acquisition of HSBC Bank Canada.
The bank says the profit amounted to $3.54 per diluted share for the quarter ended Jan. 31, up from a profit of $2.50 per diluted share a year earlier.
Revenue totalled $16.74 billion, up from $13.49 billion.
RBC’s provision for credit losses totalled $1.05 billion for the quarter, up from $813 million a year earlier.
On an adjusted basis, RBC says it earned $3.62 per diluted share in its latest quarter, up from an adjusted profit of $2.85 per diluted share in the same quarter last year.
The average analyst estimate had been for an adjusted profit of $3.26 per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Feb. 27, 2025.
Companies in this story: (TSX:RY)
The Canadian Press
