Friday , August 19 2022

Canada's Royal Bank of Canada has a record $ 12.4 billion a year



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Royal Bank of Canada records a record annual profit of 2018 for a fortune of $ 12.4 billion. US dollars, which is 8% more than last year. Low credit rates reduce high interest rates and taxes.

Robert Duck McCain, President and Chief Executive Officer of RBC, said on Wednesday, "Successful growth of our diversified business and our geographical mix is ​​ensured.

"Next, we aim to invest in our people and technologies, and offer individualized approaches and communication services to deliver value added to our clients and shareholders."

General Director of Royal Bank David McCain

Canadian press

The Toronto-based bank saw an intensive growth of its assets for the year ended 31 October, as the unit rose by 23% to $ 2.3 billion compared to fiscal 2017.

According to the RBC, the breakthrough was due to a high level of customer base based on average money, as well as high interest rates in the US and tax reform.

In a private and commercial bank RBK's net profit reached 5 percent, or $ 6 billion, which was due to higher interest rates and increased credit card purchases.

The Bank has announced its fourth quarter ended 31 October, indicating a 15% increase in revenues to $ 3.25 billion, largely due to the fact that most of its lenders, including 20%, have insured 318 million dollars for its insurance portfolio. Annual net earnings per dollar.

RBC had to pay $ 2.20 per share to earn a share of 17% a year ago, and adjusted earnings per share stood at 2.24 per share, expecting analysts to wait for three months.

Canaccord called the Genuity a "low quality tax rate".

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