Royal Bank of Canada Q4 Profit Surges 22%

Royal Bank of Canada

reported a 22% rise in its fourth-quarter profit. The bank's quarterly earnings surged to 1.91 billion Canadian dollars ($1.93 billion), or C$1.25 per share, from C$1.57 billion, or C$1.02 per share, in the year-ago period. Its adjusted earnings came in at C$$1.27 per share, beating analysts' estimates of C$1.26 per share. Its profit for the year rose 17% to C$7.5 billion. Royal Bank of Canada shares closed at $58.79 yesterday.