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Company News

Canada's RBC posts 5 percent increase in third-quarter earnings

TORONTO, Aug 23 (Reuters) - Royal Bank of Canada on Wednesday reported an increase in third-quarter earnings, helped by double digit earnings growth at its wealth management business which offset a weaker showing in capital markets.

Canada’s biggest lender reported net income, excluding one-off items, of C$2.8 billion ($2.2 billion) for the quarter to June 30, up 5 percent on the year before.

Earnings per share, excluding one-off items, were C$1.89. Analysts had on average forecast earnings per share of C$1.87 per share, according to Thomson Reuters I/B/E/S data. ($1 = 1.2571 Canadian dollars) (Reporting by Matt Scuffham; Editing by Keith Weir)

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