Royal Bank of Canada's profit rises on strength in domestic lending business

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

The gains were partially offset by larger loan loss provisions, or the capital lenders set aside to cover customers who are unable to pay back debt on mortgages and credit cards. Provisions for credit losses at RBC increased C$320 million in the second quarter from a year earlier.

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Royal Bank of Canada's profit rises on strength in domestic lending businessThough customer payments on mortgages, credit cards and other loans have shrunk, large banks still continue to benefit from elevated benchmark lending rates....
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Royal Bank of Canada's profit rises on strength in domestic lending businessThough customer payments on mortgages, credit cards and other loans have shrunk, large banks still continue to benefit from elevated benchmark lending rates....
Source: YahooFinanceCA - 🏆 47. / 63 Read more »