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Royal Bank of Canada posts 6% jump in profit on wealth management boost -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The logo of Royal Bank of Canada can be found on Bay Street at the centre of Toronto’s Financial District, February 22, 2015. REUTERS/Mark Blinch/File Photograph

TORONTO, (Reuters) – The Royal Bank of Canada reported a 6% increase in the first quarter profit. This was due to higher fees income from its wealth management and banking units.

Canada’s largest lender according to market capitalization posted an overall net income in excess of C$4.1billion ($3.20billion), or C$2.84 per share. This compares with C$3.8billion or C$2.66 per share a year earlier.

($1 = 1.2826 Canadian dollars)

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