The FINANCIAL — Royal Bank of Canada reported that its fourth-quarter net income to shareholders increased to C$2.57 billion from C$2.32 billion, prior year, driven by solid earnings growth in Capital Markets and Personal & Commercial Banking, and a lower effective tax rate reflecting net favourable tax adjustments in Corporate Support. Earnings per share was C$1.74 compared to C$1.57.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of C$1.64 for the quarter. Analysts’ estimates typically exclude special items, according to Nasdaq.
Net interest income increased to C$3.80 billion from C$3.56 billion, a year ago. Total revenue was C$8.02 billion compared to C$8.38 billion. Analysts expected revenue of C$8.65 billion for the quarter.
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