Royal Bank of CanadaRY
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Record Q3 earnings of $6B, up 11% YoY, with strong ROE and CET1 ratio.
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Financials
Royal Bank of Canada
HSBC Holdings PLCHSBA
Mentioned
Royal Bank of Canada reported record third-quarter earnings of $6 billion, up 11% year-over-year, with revenues growing 9% and adjusted diluted earnings per share of $4.28, also up 11%. The bank's performance was driven by record results across most segments, including Personal Banking, Commercial Banking, Capital Markets, and Wealth Management, with a return on equity of 17.9% and a Common Equity Tier 1 ratio of 13.5%. The bank also announced plans to build a global transaction banking business and reiterated its full-year targets, while noting that the implementation of Section 338 tariffs could impact Canadian GDP by approximately 40 basis points. Additionally, RBC expects its CET1 ratio to trend towards the midpoint of its 12.5% to 13.5% range over time, following the recent change in the Domestic Stability Buffer.
Royal Bank of CanadaRecord Q3 earnings of $6B, up 11% YoY, with strong ROE and CET1 ratio.
HSBC Holdings PLC