News Formal

RBC reports rise in second-quarter profit on strength in domestic lending business

  • 📰 globebusiness
  • ⏱ Reading Time:
  • 18 sec. here
  • 49 min. at publisher
  • 📊 Quality Score:
  • News: 174%
  • Publisher: 66%

Canadian News News

Canada News,Breaking News Video,Canadian Breaking News

RBC’s profit climbed to $3.95-billion, or $2.74 per share, for the three months ended April 30

on Thursday reported a rise in second-quarter profit as the lender’s personal and commercial banking unit benefited from higher interest income.

RBC’s personal and commercial banking unit’s net income rose 7 per cent to $2.05-billion in the reported quarter, primarily driven by higher net interest income, or the difference between what a bank earns on loans and pays on deposits. A cost-of-living crisis and higher-for-longer interest rates have clouded the outlook for banks in 2024.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RBC names insider Stopnik as global investment banking headThe bank also named Vito Sperduto as the head of RBC Capital Markets in the U.S. RBC, which recognizes a 10% share in investment banking in its home turf...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

RBC Taps Stopnik to Lead Revamped Global Investment-Banking UnitRoyal Bank of Canada has adopted a global structure for its investment-banking business and tapped Matthew Stopnik to head up the division.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

RBC names insider Stopnik as global investment banking headExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »