Royal Bank of Canada signage is pictured in the financial district in Toronto on Sept. 8, 2023. Photo by THE CANADIAN PRESS/Andrew Lahodynskyj

Royal Bank of Canada topped analysts’ earnings expectations despite keeping more money aside to tackle loans that may go bad, as it reported higher profits across each of its business segments during the third quarter.

Its net income for the three months ending July 31 was $5.4 billion, up 21 per cent from the same period last year, resulting in net earnings per share of $3.75.

RBC’s adjusted net income — which removes the impact of non-recurring items — was $5.5 billion, up 17 per cent year over year, resulting in adjusted earnings per share of $3.84, which topped analysts’ expectations of about $3.32 per share.

Chief executive Dave McKay sa

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