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Company News

Royal Bank of Canada profit rises 5% on retail strength

Aug 21 (Reuters) - Royal Bank of Canada reported a 5% rise in quarterly profit on Wednesday, boosted by growth in personal and commercial banking.

Net income rose to C$3.26 billion ($2.45 billion), or C$2.22 per share, in the third quarter ended July 31, from C$3.11 billion, or C$2.10 per share, a year earlier. [reut.rs/2P7EYCn ]

RBC is the first of Canada’s big banks to report third-quarter earnings. ($1 = 1.3302 Canadian dollars) (Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)

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