TORONTO — Royal Bank of Canada reported a third-quarter profit of $5.4 billion, up from $4.5 billion in the same quarter last year.

The bank says the profit amounted to $3.75 per diluted share for the quarter that ended July 31, up from a profit of $3.09 per diluted share a year earlier.

Revenue totalled $16.99 billion, up from $14.63 billion.

RBC's provision for credit losses reached $881 million for the quarter, up from $659 million a year earlier.

On an adjusted basis, RBC says it earned $3.84 per diluted share in its latest quarter, up from an adjusted profit of $3.26 per diluted share in the same quarter last year.

The average analyst estimate had been for an adjusted profit of $3.32 per share, according to LSEG Data & Analytics.

"We saw strong growth across each of our busi

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