RBC profit rises 22 percent on trading, loans

TORONTO Thu Nov 29, 2012 6:15am EST

TORONTO Nov 29 (Reuters) - Royal Bank of Canada's quarterly profit rose 22 percent, driven by a sharp jump in fixed income trading revenue and steady loan growth, Canada's largest bank said on Thursday.

RBC, which last month agreed to buy the Canadian auto finance arm of Ally Financial in a $4.1 billion deal, said it had earned C$1.9 billion, or C$1.25 a share, in the fourth quarter ended Oct. 31.

That compared with a year-earlier profit of C$1.6 billion, or C$1.02 a share.