RBC posts 15% growth in profit

RBC has announced its 2014 Q2 earnings at $2.2 billion, an increase of $292 million — or 15% — from last year.

Read: RBC GAM launches 2 funds, new fund series

Company CEO Gordon Nixon says the return on equity is placed at 19%. The bank’s Q2 earnings increased from Q1 by $109 million.

RBC’s personal and commercial banking increased 7%, compared to this time last year, to $1.1 billion. The wealth management division increased earnings by 25% to $278 million.

Read: RBC insurance lowers some DI rates

RBC capital markets earned $507 million this quarter, up by 32% from last year.

Read: RBC GAM launches 4 equity funds

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.