Royal Bank of Canada profit climbs 26 percent

Thu May 30, 2013 6:19am EDT
 
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TORONTO May 30 (Reuters) - Royal Bank of Canada said on Thursday that its quarterly profit rose 26 percent, driven by stronger lending volumes and lower loan-loss provisions.

The bank, Canada's largest, earned C$1.94 billion ($1.87 billion), or C$1.27 a share, in the second quarter ended April 30. That compares with a year-earlier profit of C$1.53 billion, or 99 Canadian cents a share, when the bank took an acquisition-related charge of about C$200 million.