Canada's RBC reports 7 percent increase in second-quarter profit

Thu May 26, 2016 6:15am EDT
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TORONTO May 26 (Reuters) - Royal Bank of Canada on Thursday reported a 7 percent increase in second-quarter profit, which it said reflected strength across its businesses.

Canada's biggest bank by market value said net income excluding one-off items for the second quarter to April 30 was C$2.6 billion, or C$1.66 per share, compared with C$2.4 billion, or C$1.61 per share, a year earlier.

Analysts on average had expected earnings of C$1.64 per share, according to Thomson Reuters I/B/E/S.

(Reporting by Matt Scuffham; editing by Jason Neely)