May 25, 2017 / 10:26 AM / 2 years ago

Royal Bank of Canada's quarterly earnings beat market forecasts

(Adds details)

TORONTO, May 25 (Reuters) - Royal Bank of Canada reported an 11 percent increase in second quarter earnings, beating market forecasts, helped by a strong performance in its capital markets and wealth management businesses.

Canada’s biggest lender by assets and market value on Thursday said earnings per share, excluding one-off items, rose to C$1.85 per share in the quarter to April 30 from C$1.66 a year earlier. Analysts had on average forecast earnings of C$1.80, according to Thomson Reuters I/B/E/S data.

Net income increased by 9 percent from the year before to C$2.8 billion ($2.1 billion).

The bank said net income at its wealth management business increased by 12 percent from a year ago to C$431 million, benefiting from strong equity markets.

Net income at its capital markets business grew by 15 percent to C$668 million, driven by improved results in its corporate and investment banking and global markets businesses.

$1 = 1.3431 Canadian dollars Reporting by Matt Scuffham; Editing by Mark Potter

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