RBC boosts Q@profit to $2.57 billion, sets aside more money for bad loans

May 26, 2016 - 3:41 AM

TORONTO - Royal Bank (TSX:RY) boosted its second-quarter profit by three per cent to $2.57 billion, even as it set aside more money for bad loans.

The quarterly net income was up from $2.50 billion during the same quarter last year.

RBC's earnings amounted to $1.66 per share, down from $1.68 per share a year ago.

Revenue for the three months ended April 30 was $9.53 billion, up from $8.83 billion during the same period last year.

The bank also boosted its provision for credit losses to $460 million, up $178 million or 63 per cent from a year ago.

Follow @alexposadzki on Twitter.

News from © The Canadian Press, 2016

iN RESPONSE: Readers have their say
Following are emailed reader responses to stories or letters to the editor for the third week of April 2024. They have been edited slightly for readability. Got something you want to add? Send an email to editor Marshall Jones at mjo

Kelowna winery says accountant took almost a half-million dollars
The owners of a Kelowna winery and golf course allege their former controller took nearly $450,000 in just 30 months on the job. The Turton Group, which owns The View winery as well as Orchard Greens golf course and a rental business, is su

No weed, just beer: Bavaria bans smoking cannabis at Oktoberfest and beer gardens
BERLIN (AP) — You can get drunk at Bavaria's world-famous Oktoberfest, but don't get high. The southern German state will ban smoking cannabis at public festivals, inside beer gardens, and even at the Oktoberfest, the world

B.C. home sales slide almost 10 per cent in March despite mortgage rate drop
VANCOUVER - Home sales in British Columbia fell by almost 10 per cent in March compared with the same period last year, in a slowdown an analyst says could be buyers waiting for lower interest rates. The B.C. Real Estate Association says th

Lemonade stand sparks overwhelming support for Kamloops family
The old adage “when life gives you lemons, make lemonade” never made more sense for a mother of three in Kamloops. Cara English’s daughter set up a lemonade stand to raise
April 17, 2024 7:00 AM
Kelowna winery says accountant took almost a half-million dollars
The owners of a Kelowna winery and golf course allege their former controller took nearly $450,000 in just 30 months on the job. The Turton Group, which owns The View winery as well as Orcha
April 15, 2024 6:00 PM
North Okanagan family 'aren't safe' after murder suspect released
A North Okanagan man whose partner was abducted and killed says he doesn’t feel his family is safe after police released the suspected killer. Police have released Vitali Steffan, also
April 16, 2024 6:00 PM
RCMP tight-lipped about serious crime investigation at Kamloops home
RCMP investigators have been at a North Kamloops home since late last week, but police are tight-lipped as to why. A Kamloops RCMP forensic team along with members of the serious crime unit
April 16, 2024 3:04 PM
North Okanagan murder suspect tried to return to family home after release: daughter
Family of North Okanagan woman Tatjana Stefanski, who was found dead yesterday and presumed murdered, say they are dealing with grief, but also some fear and anger. In a social media post, h
April 16, 2024 1:34 PM

Trending Now

View Site in: Desktop | Mobile