RBC beats profit expectations, raises dividend and plans to buy back shares

Royal Bank of Canada reported higher second-quarter profit that beat analysts’ estimates, driven by a surge in capital markets earnings and lower provisions for sour loans. The result points to improved fundamentals in its banking operations and credit quality. The headline is positive for RBC shares, though the article provides no detailed figures or guidance change.

Analysis

Royal Bank of Canada reported higher second-quarter profit that beat analysts’ estimates, driven by a surge in capital markets earnings and lower provisions for sour loans. The result points to improved fundamentals in its banking operations and credit quality. The headline is positive for RBC shares, though the article provides no detailed figures or guidance change.