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Earnings

Royal Bank of Canada profit rises on capital markets strength

The Royal Bank of Canada (RBC) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

(Reuters) - Royal Bank of Canada reported a small rise in fourth-quarter profit on Wednesday, as strong performance in its capital markets unit offset weakness in commercial banking and wealth management.

Net income rose to C$3.25 billion ($2.51 billion) for the quarter ended Oct. 31, or C$2.23 per share, from C$3.20 billion, or C$2.19 per share, a year earlier, Canada’s largest lender by market capitalization said in a statement.

($1 = 1.2936 Canadian dollars)

Reporting by Noor Zainab Hussain and Ambar Warrick in Bengaluru; Editing by Shinjini Ganguli

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