Key Takeaways The Royal Bank of Canada reported third-quarter earnings above analysts' estimates, sending its stock to a record high Wednesday. The bank saw profits increase in its personal banking and wealth management divisions. By contrast, several of RBC's Canadian banking peers missed estimates or reported falling profits or revenue in recent weeks. Royal Bank of Canada (RY) shares rose to a record high Wednesday after the bank reported earnings above analysts' estimates, thanks to growing profits in i ...

Royal Bank of Canada (NYSE:RY) Q3 2024 Earnings Conference Call August 28, 2024 8:00 AM ET Company Participants Asim Imran - Senior Vice President, Head of Investor Relations David McKay - President and Chief Executive Officer Katherine Gibson - Interim Chief Financial Officer Graeme Hepworth - Chief Risk Officer Neil McLaughlin - Group Head, Personal and Commercial Banking Derek Neldner - Group Head, Capital Markets Doug Guzman - Group Head, Wealth Management and Insurance Conference Call Participants Ebra ...

Royal Bank (RY) came out with quarterly earnings of $2.38 per share, beating the Zacks Consensus Estimate of $2.15 per share. This compares to earnings of $2.13 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 10.70%. A quarter ago, it was expected that this bank would post earnings of $2.03 per share when it actually produced earnings of $2.15, delivering a surprise of 5.91%. Over the last four quarters, the company has surpas ...

Royal Bank of Canada Third Quarter Results August 28, 2024 All amounts are in Canadian dollars unless otherwise indicated and are based on financial statements prepared in compliance with International Accounting Standard 34 Interim Financial Reporting, unless otherwise noted. Effective November 1, 2023, we adopted IFRS 17 Insurance Contracts (IFRS 17) and comparative amounts have been restated from those previously presented. Totals may not add and percentage changes may not reflect actual changes due to r ...

Royal Bank (RY) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on August 28, 2024, might help the stock move higher if these key numbers are better than expect ...

Core Viewpoint - The Royal Bank of Canada (RBC) is facing a lawsuit from its former CFO Nadine Ahn for $36 million, following her termination over alleged misconduct related to a personal relationship with another employee, which she denies [1][2]. Group 1: Allegations and Lawsuit - Nadine Ahn claims she was wrongfully terminated and suffered "public humiliation" and "palpable reputational harm" due to the allegations against her [1][2]. - RBC stated that Ahn was fired after an investigation found "irrefutable evidence" of her violating the bank's code of conduct, specifically regarding her relationship with Ken Mason, who was also terminated [2][6]. - Ahn asserts that her relationship with Mason was a long-standing friendship and not romantic, countering the bank's claims of preferential treatment [3][5]. Group 2: Investigation and Response - RBC initiated an investigation after receiving allegations against Ahn in March, and they engaged outside legal counsel to conduct the inquiry [6][7]. - The bank's spokesperson has stated that the claims made by Ahn are "without merit" and that RBC will defend itself vigorously in court [6][8]. Group 3: Financial Implications - Ahn's compensation in 2023 was approximately $3 million, which included a salary of about $475,000 and over $2.5 million in bonuses and stock awards, reflecting a 25% increase from the previous year [9]. - RBC's policy indicates that executives terminated for cause are not entitled to severance and may have to forfeit bonuses, although it is unclear if Ahn will have to return any of her earnings [9]. Group 4: Interim Leadership - Following Ahn's termination, RBC appointed Katherine Gibson as the interim CFO, who has over two decades of experience with the bank [10].

Royal Bank in Focus Based in Toronto, Royal Bank (RY) is in the Finance sector, and so far this year, shares have seen a price change of 10.35%. Currently paying a dividend of $1.02 per share, the company has a dividend yield of 3.66%. In comparison, the Banks - Foreign industry's yield is 4.44%, while the S&P 500's yield is 1.56%. Taking a look at the company's dividend growth, its current annualized dividend of $4.08 is up 3% from last year. Royal Bank has increased its dividend 5 times on a year-over-yea ...

During the reported quarter, RY completed the previously announced deal to acquire HSBC Bank Canada for C$13.5 billion. Results were driven by higher revenues and loans and deposit balances. However, an increase in expenses and provisions acted as a headwind. Revenues Improve, Expenses Rise Total revenues were C$14.15 billion ($10.43 billion), up 14% year over year. Net interest income (NII) was C$6.62 billion ($4.88 billion), growing 9% from the prior-year quarter. Non- interest income was C$7.53 billion ( ...

Company Participants Conference Call Participants Operator Good morning, ladies and gentlemen and welcome to RBC's 2024 Second Quarter Financial Results Conference Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Asim Imran, Head of Investor Relations. Please go ahead, Mr. Imran. Thank you, and good morning, everyone. Speaking today will be Dave McKay, President & Chief Executive Officer; Katherine Gibson, Interim Chief Financial Officer; and Graeme Hepw ...

(1) This is a non-GAAP measure. See note 3 on slide 45. (2) This is a non-GAAP measure. See note 1 on slide 45. (3) See note 4 on slide 45. (4) This is a non-GAAP measure. See note 5 on slide 45. (5) This is a non-GAAP measure. See note 6 on slide 45. (6) This is a non-GAAP measure. See note 2 on slide 45. (7) See note 7 on slide 45. (8) This is a non-GAAP measure. See note 8 on slide 45. CET1(1) Movement 590.3 653.7 44.1 7.2 4.1 3.3 4.7 Q1/2024 (3) HBCA Transaction Credit & Op Risk (Excluding FX) Market Ri ...