Operator: Good morning, ladies and gentlemen. Welcome to the RBC 2013 Second Quarter Results Conference Call. Please be advised that this call is being recorded.
I'd now like to turn the meeting over to Ms. Karen McCarthy, Director of Investor Relations. Please go ahead, Ms. McCarthy.
Karen McCarthy - Director, IR: Good morning, and thank you for joining us. Presenting to you this morning are Gord Nixon, our President and CEO; Morten Friis, Chief Risk Officer; and Janice Fukakusa, Chief Administrative Officer and CFO.
Following their comments, we will open the call for questions from analysts. The call is one hour long and will end at 9.30 am. To give everyone a chance to participate, please keep it to one question and then re-queue. We will be posting management's remarks on our website shortly after the call.
Joining us for your questions are George Lewis, Group Head Wealth Management and Insurance; Doug McGregor, Chairman and Co-CEO, Capital Markets and Co-Head of Investor & Treasury Services; Dave McKay, Group Head Personal and Commercial Banking; Mark Standish, President and Co-CEO, Capital Markets and Co-Head of Investor & Treasury Services; and Zabeen Hirji, Chief Human Resources Officer.
As noted on Slide 2, our comments may contain forward-looking statements, which involve applying assumptions and have inherent risks and uncertainties. Actual results could differ materially from these statements.
I will now turn the call over to Gord Nixon.
Gordon M. Nixon - President and CEO: Thank you, Karen and good morning, everyone. I'm pleased to announce that RBC earned C$1.9 billion in the second quarter up 26% from last year. Excluding certain items pertaining to our acquisition and the integration of RBC Investor Services, which Janice will expand on in her remarks, our earnings were approximately C$2 billion, up 13% from last year and excluding amortization of intangibles earnings per share were C$1.31.
We had solid earnings growth compared to last year across all of our business segments with Canadian banking and our Corporate and Investment Banking and asset management businesses, being particularly strong, but I would emphasize that all of our businesses were up. Year-to-date RBC has earned just over C$4 billion delivering a return on equity of 19.1%.
Our all-in common Tier 1 equity remained strong at 9.1% and that's not withstanding the 45 basis point reduction as a result of Ally. That strong ratio gives us flexibility in deploying our capital as we strive for the optimal balance between investing in our businesses for longer-term growth and returning capital to our shareholders through dividend and share buybacks, which we started with this past quarter, and as well as pursuing acquisitions like Ally.
The strength and complementary nature of our diversified business continues to contribute to our earning power. Even as the Canadian banking industry is facing slower growth, we remain confident in our ability to successfully execute on our strategy, extend our leadership position, and invest for long-term growth. In fact, during the quarter, we were recognized by Bloomberg in their annual list of the world's strongest banks. RBC was ranked the fourth strongest bank in the world, up two spots from last year.