Royal Bank of Canada reported first-quarter earnings that rose to C$5.79 billion (US$4.23 billion), or C$4.03 a share, up from C$5.13 billion a year earlier.
Adjusted earnings per share of C$4.08 surpassed analyst expectations of C$3.85. Total revenue increased by 7.3% to C$17.96 billion, exceeding the C$17.5 billion forecast.
The bank's personal banking, wealth management, and capital markets operations all contributed to the growth. Despite an elevated credit-loss provision of C$1.09 billion, the bank's return on equity expanded to 17.6%.
Royal Bank's capital position also strengthened, with a common equity Tier 1 ratio of 13.7%. The bank anticipates continued positive economic growth globally, with modest growth expected in Canada.
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