Royal Bank of Canada (RY.TO,RY) reported third quarter net income of C$5.4 billion, up 21% from prior year. EPS was C$3.75, up 21%. Adjusted net income and adjusted EPS of C$5.5 billion and C$3.84 were up 17% and 18%, respectively. The company reported pre-provision, pre-tax earnings of C$7.8 billion, up 29% from last year, mainly due to higher revenue in Capital Markets driven by strength across Corporate & Investment Banking and Global Markets and higher net interest income in Personal Banking and Commercial Banking reflecting strong average volume growth and higher spreads in Personal Banking.
Third quarter total revenue increased to C$16.98 billion from C$14.63 billion, previous year.
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