(Toronto) Royal Bank of Canada (RBC) reported third-quarter profit of $4.49 billion, up from $3.86 billion in the same period last year.
The financial institution said its net income was $3.09 per share for the quarter ended July 31, compared to a profit of $2.73 per share in the same quarter last year.
Its revenue totaled $14.63 billion, up from $12.98 billion a year ago, while its provision for credit losses stood at $659 million, up from $616 million in the same quarter last year.
RBC noted that the inclusion of HSBC Canada’s results boosted its net profit by $259 million from the previous quarter.
On an adjusted basis, RBC earned $3.26 per share, up from adjusted earnings of $2.83 per share a year ago.
Analysts on average had expected adjusted earnings of $2.97 per share, according to LSEG Data & Analytics.