Royal Bank of Canada boosted its first-quarter net income by 24 per cent to $3.03 billion.
That’s compared to the $2.45 billion of net income that RBC had during the first-quarter of last year.
The Toronto-based bank said its net income was equal to $1.97 per diluted share for the quarter, up 39 cents from $1.58 per diluted share a year ago.
Revenue for the three months ended Jan. 31 was $9.55 billion, up from $9.36 billion during the same period last year.
After adjustments the lender had $1.87 per share of earnings, higher than the $1.77 per share that analysts had expected, according to Thomson Reuters.
The bank also boosted its dividend by four cents, or five per cent, to 87 cents per share, payable on May 24.
“RBC reported earnings of $3 billion for the first quarter reflecting strength across our businesses as we continued to invest in growth,” Dave McKay, RBC president and CEO, said in a statement.
“As the operating landscape evolves, we are focused on our strategy of building a digitally-enabled relationship bank to meet the changing expectations of our clients.”
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