RBC reported a 22% drop in profit but beat analysts estimates. Find out more
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RBC reported a 22 per cent year-over-year drop in profit, which clocked in at $3.2 billion in the three months ending Jan. 31. On an adjusted basis, the bank’s net income grew four per cent to $4.3 billion since last year, or earnings of $3.10 per share. Bloomberg analysts had been expecting $3.00 per share.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The federal government’s banking and life insurer tax was introduced in the 2022 budget and was based on the average of 2020 and 2021 taxable income exceeding $1 billion.
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