Royal Bank of Canada reports higher fourth-quarter profit

Wed Dec 3, 2014 6:10am EST
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TORONTO Dec 3 (Reuters) - Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday, helped by double-digit earnings gains at its wealth management arm.

Canada's largest bank reported net income of C$2.3 billion ($2.02 billion), or C$1.57 a share, for the fourth-quarter ended Oct. 31, compared with C$2.1 billion, or C$1.40 a share, a year earlier.

The bank said cash diluted earnings per share were C$1.59.

Analysts had expected adjusted earnings of C$1.58 per share, according to Thomson Reuters I/B/E/S.

($1 = 1.1379 Canadian dollars) (Reporting by Jeffrey Hodgson Editing by W Simon)