RBC profit rises 12 percent; bank raises dividend

TORONTO Thu Feb 28, 2013 6:23am EST

TORONTO Feb 28 (Reuters) - Royal Bank of Canada reported a 12 percent rise in quarterly profit on Thursday, driven by stronger loan growth and capital markets income, and it raised its dividend.

The bank, Canada's largest, earned C$2.07 billion ($2.05 billion), or C$1.36 a share, in the first quarter ended Jan 31. That compares with a year-before profit of C$1.86 billion, or C$1.22 a share.

On an adjusted basis, the bank earned C$1.38 a share. Analysts had expected a profit of C$1.31 a share, according to Thomson Reuters I/B/E/S.

RBC raised its dividend 5 percent to 63 Canadian cents a share.

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