Royal Bank of Canada

RY: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Royal Bank of Canada Earnings: Strong Balance Sheet Growth, but Credit Costs a Headwind

Maoyuan Chen

Feb 27, 2025

Wide-moat-rated Royal Bank of Canada reported slightly disappointing fiscal first-quarter results as credit costs were a headwind. Net revenue increased 24% from a year ago to CAD 16.7 billion, driven by strong growth in net interest income, trading income, and asset-based fees. Adjusted net income increased 29% from a year ago to CAD 5.3 billion.

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