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TORONTO -On Thursday, Royal Bank of Canada (NYSE:RY) reported first quarter 2025 earnings that exceeded analyst estimates.
The cimpany’s shares were up 1.32% in early trading.
The Canadian banking giant posted adjusted earnings per share of C$3.62, beating the consensus forecast of C$3.23. Revenue came in at C$16.74 billion, surpassing expectations of C$15.43 billion.
Net income rose 43% YoY to C$5.13 billion, driven by growth across all business segments. The acquisition of HSBC Canada contributed C$214 million to net income in the quarter.
"RBC’s first quarter exemplifies our commitment to staying ahead of our clients’ expectations in an increasingly complex world," said Dave McKay, President and CEO of Royal Bank of Canada. "In Q1, we delivered strong results and client-driven growth across our businesses, while prudently managing risk and making investments in technology and talent to position the bank for the future."
The bank’s CET1 capital ratio stood at 13.2%, unchanged from the previous quarter and well above regulatory requirements. Royal Bank returned C$2.4 billion to shareholders through dividends and share buybacks in Q1.
Total (EPA:TTEF) provisions for credit losses increased to C$1.05 billion from C$813 million a year ago, reflecting higher provisions in Commercial Banking, Wealth Management and Personal Banking.
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