Royal Bank of Canada

RY: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 954.00	Cpc	Bwlndmhssl

Royal Bank of Canada Earnings: Expenses and Provisioning Run Higher in Tough Earnings Environment

Eric Compton

May 25, 2023

Wide-moat-rated Royal Bank of Canada reported OK fiscal second-quarter earnings. Adjusted earnings per share were CAD 2.65, representing a decline of 11% year over year and a decline of 15% quarter over quarter. Results generally fit within the overall pattern we expect for the Canadian banks this year, as we looked for slowing loan growth, an increase in credit strain, and some pressure on net interest income growth.

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