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Royal Bank of Canada profit slips on write-downs

Thu Aug 28, 2008 7:42am EDT

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TORONTO, Aug 28 (Reuters) - Royal Bank of Canada (RY.TO) said on Thursday its third-quarter profit fell 10 percent as results were hurt by capital markets charges and higher loan-loss provisions, largely in its U.S. banking operations.

Canada's largest bank said net income was C$1.26 billion ($1.2 billion), or 92 Canadian cents a share, in the three months ended July 31. That compared with a profit of C$1.39 billion, or C$1.06 a share, in the same 2007 period. ($1=$1.05 Canadian) (Reporting by Jennifer Kwan)



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