TORONTO (Reuters) – Royal Bank of Canada reported a 24 percent rise in first-quarter net income to more than C$3 billion, beating analysts expectations.
Canada’s biggest bank said it benefited from strong performances by its personal and commercial banking and capital markets businesses.
Net income in the quarter to Jan. 31 rose to C$3.03 billion, from C$2.45 billion a year ago with earnings per share rising to C$1.97 per share, compared with C$1.58 a year earlier.
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Analysts on average had forecast earnings of C$1.77, according to Thomson Reuters I/B/E/S data.
Net income at its personal & commercial business rose by 23 percent to C$1.59 billion. Its capital markets division reported a 16 percent rise in net income to C$662 million.
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