Royal Bank of Canada aka RBC TSX&NYSE:RY największy bank kanadyjski pod względem kapitalizacji

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wykres Toronto
https://finance.yahoo.com/chart/RY.TO
https://stockcharts.com/h-sc/ui?s=RY.TO

wykres NYSE
https://finance.yahoo.com/chart/RY
https://stockcharts.com/h-sc/ui?s=RY

Royal Bank of Canada TSX&NYSE:RY - największy bank kanadyjski pod względem kapitalizacji.
Wielka piątka banków z Kanady.

Spółki zależne:



RBC Capital Markets is a global investment bank providing services in banking, finance, and capital markets to corporations, institutional investors, asset managers, and governments globally. Locations span 58 offices in 14 countries across North America, the UK, Europe, and the Asia-Pacific region. Employment estimates for RBC professionals are roughly 7,800 per company reports.

https://en.wikipedia.org/wiki/Royal_Bank_of_Canada
https://pl.wikipedia.org/wiki/Royal_Bank_of_Canada
https://www.cibc.com/en/personal-banking.html
dywidendy co pół roku podwyżka
https://finviz.com/quote.ashx?t=RY
https://seekingalpha.com/symbol/RY/dividends/scorecard USA
https://www.nasdaq.com/symbol/RY/dividend-history
https://www.morningstar.ca/ca/report/st ... lang=en-CA KANADA

TAGI royalbc, RBC

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Canada's Big 5 Banks Today: 3 Buys And 2 Holds

"Big Five" is the name colloquially given to the five largest banks that dominate the banking industry in Canada. In alphabetical order, they are:

Bank of Montreal (TSX:BMO) (NYSE:BMO)
Bank of Nova Scotia or Scotiabank (TSX:BNS) (NYSE:BNS)
Canadian Imperial Bank of Commerce (CIBC) (TSX:CM) (NYSE:CM)
Royal Bank of Canada (TSX:RY) (NYSE:RY)
Toronto-Dominion Bank (TSX:TD) (NYSE:TD)

Summary
In Canadian banking, five banks stand above the rest. The "Big Five" Canadian banks are a model of banking stability and financial reliability in the international banking industry.

The Big Five banks and their subsidiaries are the core of Canada's financial system. They are the most important players in virtually every financial service market in Canada.

Canada's banking industry is effectively an oligopoly, with a small number of banks controlling the lion's share of the system. The Canadian banking sector is stable, well developed, highly competitive.

Although the macro environment for the Big Five bank stocks does not look as good as it did a year ago, they should still be core holdings for investors' portfolios.

These Big Five banks pursue markedly different growth strategies. Of the five, my top-rated stocks are TD, BNS, and RY.

https://seekingalpha.com/article/425174 ... ngcom_feed

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Royal Bank of Canada (NYSE:RY): Q3 Non-GAAP EPS of C$2.26 misses by C$0.04; GAAP EPS of C$2.22 misses by C$0.04.

Revenue of C$11.54B (+4.6% Y/Y) misses by C$20M.

https://seekingalpha.com/news/3493480-r ... es-revenue

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Canada's TD, CIBC say restructuring possible in 2020 as RBC, BMO say no more cuts

TORONTO (Reuters) - Toronto Dominion Bank (TO:TD) and Canadian Imperial Bank of Commerce (TO:CM) chief executives declined to rule out restructuring charges on Tuesday as Canadian banks turn to controlling costs to drive earnings growth in what is expected to be a tough year.

Royal Bank of Canada's (TO:RY) chief executive, meanwhile, said its focus will be on eliminating unproductive activities rather than employees, while Bank of Montreal's CEO (TO:BMO) acknowledged "restructure fatigue" after the lender's repeated one-off charges over several reporting periods.

The executives spoke at RBC Capital Markets' Canadian Bank CEO conference, which was webcast and monitored by Reuters.

Following a year in which most banks posted disappointing earnings growth on higher loan-loss provisions, subdued margin expansion and weak investment banking performance, analysts expect risks to outweigh opportunities in 2020.

Most banks have said they expect earnings growth of 3-4% in 2020, similar to last year, versus their medium-term growth targets of double that rate.

TD CEO Bharat Masrani said restructuring is necessary to adapt to industry changes.

"In the phase we're in, you should expect that this becomes more regular until... the level of innovation slows down dramatically," he said. "Jobs within TD are changing quite dramatically... That requires us to restructure certain parts of our bank."

TD Bank and Royal Bank took restructuring charges of C$154 million and $83 million respectively in the fourth quarter.

BMO took a C$484 million ($372.16 million) pre-tax restructuring charge in the fourth quarter as part of its push to reduce its workforce by 5%, or about 2,300 employees, following a C$120 million charge earlier in the year and a C$260 million charge in 2018.

"We don't intend to pull this lever again," BMO CEO Darryl White said. "We have to make sure that 5% of the work goes away... we're doing that through technology, through rewiring the organization... and it's completely different from anything we've done in the past."

Following the banks' fourth-quarter earnings in December, CIBC analyst Robert Sedran said in a note that the pressure on expenses will not abate and forecast more such charges in the quarters ahead.

Most of the banks said they expect adjusted expense growth to fall to 2-3% in 2020, from about 5% in 2019.

A restructuring charge "is always a possibility," said CIBC CEO Victor Dodig. "If there is an opportunity to take a charge that makes sense, that we can clearly communicate to our investors, we may consider that."

The Canadian banks index closed 0.2% lower on Tuesday, compared with a 0.4% gain in the Toronto stocks benchmark (GSPTSE).

https://www.investing.com/news/stock-ma ... ts-2054456

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Royal Bank of Canada Thursday said it will buy back up to 20 million shares, or roughly 1.4% of its 1.42 billion shares outstanding, over a 12-month period starting next week.

The Toronto-based bank said it has repurchased nearly 13.7 million shares at an average of C$103.92 apiece under a previous 20-million shares authorization that expires on Friday.

Royal Bank of Canada said buybacks won't exceed 690,353 shares on any given day.

https://www.marketscreener.com/ROYAL-BA ... -30075746/

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RBC commits C$150 million to diversity push, aims for more minority executives

TORONTO (Reuters) - Royal Bank of Canada (TO:RY) is committing C$150 million ($111 million) to racial diversity initiatives and aims to increase the proportion of non-white executive hires to 30% from 20%, Canada's biggest lender said on Monday.

RBC joins Bank of America (N:BAC), which announced $1 billion to address racial inequality, and others, including Alphabet Inc's Google (O:GOOGL) and Amazon.com Inc (O:AMZN), in committing funds for racial justice causes following the death of George Floyd, a Black man killed by a Minneapolis police officer in May.

Across Canada's top six banks, people of color account for only about 10% of senior executives, according to a Reuters analysis, but none of the top six banks had either a Black CEO or a board member.

Minorities made up 37% of RBC's Canadian workforce and 35% of U.S. employees in 2019, according to a report.

RBC said in a statement it has to better understand, identify and address issues that impede the success of Black, Indigenous and other racialized groups at the bank.

The Canadian Council of Business Leaders Against Anti-Black Systemic Racism in June urged business leaders to commit to increasing Black representation among their workforces, executives and board roles by 2025.

"Many Canadian companies have made statements condemning anti-Black systemic racism it's now time to back that up with action by signing the pledge," founder Wes Hall, who also runs shareholder services firm Kingsdale Advisors, said in a statement.

RBC did not say when it seeks to reach its 30% firm-wide target for non-white executive hires.

The bank pledged C$100 million in small business loans over five years to Black entrepreneurs and a C$50 million investment until 2025 to create opportunities for 25,000 Black, Indigenous and people of color.

Last month, Manulife Financial Corp (TO:MFC) and Bank of Nova Scotia (TO:BNS) pledged C$3.5 million and C$500,000 respectively for diversity initiatives.

https://www.investing.com/news/economy/ ... ts-2221503

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Canada's Royal Bank, National Bank profits beat estimates on provisions, loans

TORONTO (Reuters) -Royal Bank of Canada and National Bank of Canada both beat analysts' expectations for third-quarter profit on Wednesday, driven primarily by the release of provisions set aside to cover bad loans.

Earnings excluding the impact of provisions for both banks rose from a year ago, but Royal Bank's performance was viewed more positively by analysts as it was driven by higher fee income and lower expenses. At National Bank, lower net interest income and increased expenses somewhat eroded the benefit of higher fees.

Both banks benefited from revenue growth in their personal and commercial banking divisions, as a pick-up in lending offset margin challenges. The more modest performances in their wealth management and capital markets businesses were largely expected, although National Bank's disappointed more than Royal Bank's.

On Tuesday, Bank of Montreal and Bank of Nova Scotia both beat estimates, with the former also posting strong pre-tax pre-provision (PTPP) earnings growth, while the latter's performance was driven almost entirely by lower provisions for credit losses (PCL).

Royal Bank shares rose 1.2% to C$133.60 in morning trading in Toronto, on track for a record close, while National Bank's fell 0.7% to C$99.05. The Toronto stock benchmark was flat.

The outsized positive impact on earnings of the releases of reserves previously set aside to cover bad loans is expected to fade in coming quarters, and markets are focused on loan growth and fee revenues to determine the future health of Canadian banks.

PTPP earnings at Royal Bank, Canada's biggest lender by market value, rose 6% from a year ago but fell 1% from the prior quarter. PTPP earnings at National Bank, the smallest of the country's Big Six lenders, were 15% higher than a year earlier but flat on the previous quarter.

Analysts expected PTPP earnings across the country's biggest lenders would fall about 1% from the second quarter.

While both banks released loan-loss reserves as impairments remained low, Royal Bank's came with some caution.

"While pandemic-related uncertainty has declined... uncertainty does remain elevated due to a rise in cases of the COVID-19 delta variant," Royal Bank's Chief Risk Officer Graeme Hepworth said on an analyst call.

He added that impaired loan provisions are expected to trend above the bank's long-term average in 2022 as a result, but that this is expected to be offset by releases on performing loans.

Royal Bank reported adjusted earnings of C$3 a share, up from C$2.23 a year earlier, beating analysts' estimates of C$2.71.

National Bank had adjusted income of C$2.36 per share, versus C$1.66 a year earlier. Analysts had expected C$2.13.

https://www.investing.com/news/stock-ma ... ns-2599007

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LONDON (Reuters) - Shares in wealth manager Brewin Dolphin leapt 61% on Thursday after Royal Bank of Canada made a 1.6 billion pound ($2.1 billion) all-cash offer for the firm, the latest in a string of wealth management acquisitions in Britain.

LONDON (Reuters) -Shares in wealth manager Brewin Dolphin leapt 61% on Thursday after Royal Bank of Canada made a 1.6 billion pound ($2.1 billion) all-cash offer for the firm, the latest in a string of wealth management acquisitions in Britain.

Banks and asset managers have been snapping up wealth management firms and direct investing platforms, making use of economies of scale to cut costs.

RBC said in a statement that Brewin shareholders will be offered 515 pence per share, representing a 62% premium on Wednesday’s closing price of 318 pence. That values the firm at 2.8% of its 55 billion pounds in assets under management as of Feb. 28, it added.

Brewin’s shares hit record highs at 511 pence at 0837 GMT, doubling from their lowest in more than a year reached earlier this month.

Peel Hunt analysts said the acquisition price looked “attractive” from Brewin’s standpoint.

https://www.fxempire.com/news/article/b ... rbc-953792

Directors of Brewin Dolphin have given unanimous backing for the deal, which is expected to complete at the end of the third quarter, RBC said.

“The UK is a key growth market for RBC, and Brewin Dolphin provides us with an exceptional platform to significantly transform our wealth management business in the region,” said David Thomas, chief executive of RBC Capital Markets Europe.

The combination would make RBC Wealth Management the No.3 wealth manager in Britain and Ireland as well as a market leader in Canada and with a growing position in the United States, Thomas said.

“The Brewin Dolphin Board is pleased to recommend the offer by RBC in the interests of our shareholders, our clients, our people and our business partners,” said Brewin Dolphin CEO Robin Beer.

Lloyds Banking Group last year bought wealth management platform Embark, while JPMorgan Chase bought Nutmeg for 700 million pounds.

Asset manager abrdn bought interactive investor in Dec 2021 for 1.5 billion pounds.

https://www.fxempire.com/news/article/b ... rbc-953792

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RBC Profit Hit by Dealmaking Slump, Souring Economic Outlook

(Bloomberg) -- Royal Bank of Canada's (NYSE:RY) profit took a hit last quarter as a slump in investment-banking activity took a toll on revenue and a deteriorating economic outlook prompted higher-than-expected provisions for loan losses.

RBC Capital Markets’ revenue fell by a third to C$1.65 billion ($1.27 billion) in the fiscal third quarter, the Toronto-based bank said in a statement Wednesday. Overall profit missed analysts’ estimates.

Royal Bank’s investment banking revenue was slammed by plunging equity markets that dried up investor demand for initial public offerings and share sales, along with C$385 million in markdowns on loans it had underwritten. Despite the quarter’s turbulent markets, trading revenue also fell, failing to counter the hit from the investment-banking downturn.

“Investment banking in particular was much weaker than people expected, even accounting for those markdowns,” Paul Gulberg, an analyst at Bloomberg Intelligence, said in an interview. “People knew there were no IPOs, they knew there was much weaker M&A, but it was still down a lot.”

RBC Capital Markets’ net income fell 58% to C$479 million. Corporate and investment banking revenue slid 52% to C$625 million, with the markdowns resulting in investment banking revenue of negative C$26 million. Revenue from global markets dropped 7.3% to C$1.14 billion.

By contrast, National Bank of Canada (OTC:NTIOF) on Wednesday posted an 18% increase in trading revenue that helped profit top analysts’ estimates. Among Canada’s six biggest banks, National Bank generates the largest portion of its revenue from capital-markets activities.

At Royal Bank, companywide net income fell 17% to C$3.58 billion, or C$2.51 a share. Excluding some items, profit was C$2.55 a share. Analysts estimated C$2.67, on average.

The company’s shares have slid 5.8% this year, compared with an 8.8% drop for the S&P/TSX Commercial Banks Index.

Royal Bank’s results also were weighed down by higher-than-expected provisions for credit losses, which the company said were “mainly due to unfavorable changes in our macroeconomic outlook.” The lender set aside C$340 million in provisions, more than the C$296.8 million analysts had projected, marking a reversal from the C$342 million of releases in the previous three months.

The bank’s common equity tier 1 capital ratio was little changed at 13.1%, compared with 13.2% at the end of the second quarter.

Despite the gloomier outlook, Royal Bank’s domestic banking operations underscored a Canadian economy that’s still performing well for now. Revenue in the division climbed 11%, helped by rising balances of mortgages, credit cards and small business loans. Net income for the unit fell, hurt by $331 million in provisions for credit losses, compared with C$122 million in releases a year earlier.

Royal Bank also got a lift from the Bank of Canada’s interest-rate increases, which helped boost its net interest margin to 1.52% last quarter from 1.45% in the second quarter, an expansion that National Bank analyst Gabriel Dechaine called “very strong.”

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(Reuters) - Royal Bank of Canada (RBC) and National Bank of Canada TSX:NA said their fourth-quarter profits fell as they set aside larger loan loss provisions should aggressive interest rate hikes tip the economy into a recession.

Investors have been on alert for any signs of the Bank of Canada's hawkish monetary tightening campaign spilling over into loan demand, which has been resilient so far.

Profit from personal and commercial banking for RBC and National Bank in the quarter grew 5% and 13%, respectively.

"The lagging impact of monetary policy, combined with strong employment and significant liquidity, has likely delayed what may end up being a brief and moderate recession," RBC Chief Executive Officer Dave McKay said.

RBC earmarked C$381 million in provisions for credit losses (PCL), compared with a C$227 million release last year. National Bank reported C$87 million versus a C$41 million release a year ago.

The PCL build is not "outrageous", said Allan Small, senior investment adviser at the Allan Small Financial Group with iA Private Wealth.

"The overall sentiment is that markets have a little bit more certainty in terms of the path the central bank is going to take."

Shares of RBC, which agreed to buy HSBC's Canadian business on Tuesday, were down 1.4%, while National Bank fell nearly 4%.

RBC and National Bank's market-focused businesses took a hit in the fourth quarter, as tough economic conditions hurt corporate appetite for deals.

Net income from RBC's capital markets unit was down 33%, while National Bank's financial markets segment posted a 14% drop in earnings.

Excluding one-item costs, RBC earned C$2.78 per share, beating analysts' average estimate of C$2.68, according to Refinitiv IBES data.

National Bank, on the other hand, posted an adjusted profit of C$2.08 per share, below analysts' expectation of C$2.24.

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Canada's RBC reiterates forecast for moderate recession after profit beat

(Reuters) - Royal Bank of Canada (RBC) said on Wednesday it expected a softer landing for the economy, but the country's largest lender reiterated its forecast of a moderate recession this year after setting aside bigger provisions for potential bad loans.

The views come against the backdrop of the Bank of Canada hiking its key interest rate to a 15-year high in January to rein in inflation, with tighter monetary policies at home and abroad fueling economic turbulence and raising recession fears.

The Canadian central bank had also said in January it would hold off on further increases as long as prices eased as expected.

Still, as economic uncertainty persists, banks are building provisions in case of delays or defaults in loan repayments by borrowers who have already been squeezed by high inflation since last year.

"While central banks have successfully reigned in peak core inflation, strong services demand, labor shortages and reopening of China's economy still present a challenge to getting firm control within stated target ranges," RBC's Chief Executive Officer Dave McKay said.

Earlier on Wednesday, RBC and National Bank of Canada (OTC:NTIOF) reported first-quarter profits ahead of expectations, as demand for loans ticked up.

RBC, which has a large capital markets business in Canada, also saw its results receive a boost from a surge in fixed income trading activity, which cushioned the hit from lower revenues from corporate and investment banking.

Profit at RBC's capital market segment jumped 9% to C$1.22 billion.

Shares of RBC were down 2.5% at C$135.14 while National Bank shares were up 2.4% at C$102.62.

"While underlying results (for RBC) were solid, we are concerned that it may not be enough to offset concerns on the outlook for further deterioration in credit," Barclays (LON:BARC) analyst John Aiken said in a note.

The ongoing economic uncertainty, lack of easy money and volatile markets have, however, bolstered demand for loans, both among individuals and businesses.

But banks are also preparing for more of such borrowers to fall behind on loan repayments. RBC's provisions for bad loans jumped five-fold to C$532 million ($391.49 million), while National Bank set aside C$86 million provisions, compared with a release of C$2 million last year.

Canada's biggest lenders build rainy-day funds https://www.reuters.com/graphics/CANADA ... /chart.png

On an adjusted basis, RBC earned C$3.10 per share for the quarter ended Jan. 31, ahead of analysts' average estimate of C$2.93 per share, according to Refinitiv IBES data.

National Bank's adjusted profit of C$2.56 per share also handily beat expectations of C$2.37 per share.

Earlier, RBC's peers CIBC and Bank of Montreal also beat estimates, while Scotiabank fell short.

https://www.investing.com/news/economic ... ls-3018382

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(Reuters) - Royal Bank of Canada (RBC) warned of a softer economy ahead and plans to cut about 1,800 job after Canada's largest bank beat analysts' estimates for the third quarter on Thursday helped by cost cutting measures.

Chief Executive Officer Dave McKay forecast slowing growth and lower inflation due to the lagging impact of monetary policy, combined with a slowdown in China and elevated climate and geopolitical risks.

"We are seeing evidence of slowing labor markets as evidenced by slowing wage growth, lower job postings and an increase in Canadian unemployment. Consequently, our base case forecasts a softer economic outlook," he told analysts.

"The operating environment is changing at a faster pace than we've seen for over a decade."

McKay in May said the lender would slow hiring after it overshot by thousands of people. The bank said the number of full-time employees was down 1% from the prior quarter, and it expects to further reduce headcount by about 1% to 2%. The bank had 93,753 full-time employees as of July 31.

"The bank did a commendable job in managing expenses, with an improvement in its overall efficiency ratio," Barclays (LON:BARC) analyst John Aiken said, noting the lender's earnings beat.

The country's second-largest bank Toronto-Dominion Bank, however, missed analysts' estimates for quarterly profit, which was hurt by higher expenses, rainy day funds to cover for unpaid loans and weakness in its U.S. business.

TD set aside C$766 million, a jump from C$351 million a year ago, while RBC set aside C$616 million for credit losses, up from C$340 million, as consumers struggle to make payments amid high costs of living.

The Bank of Canada has raised interest rates 10 times since March of last year to tackle sticky inflation, boosting profitability for banks' consumer businesses as they benefit from higher earnings from loans.

That helped boost earnings at RBC's retail business by 5%. At TD, however, income from its Canadian personal and commercial banking segment fell 1% and fell 9% at its U.S retail unit.

"The higher interest rate would put pressure on the consumer. But we're seeing so far they continue to be resilient... but we're continuously monitoring very closely," TD CFO Kelvin Tran said in an interview.

TD also plans to repurchase 90 million shares, after it launched a share buyback program for 30 million shares in May, shortly after terminating its $13.4 billion acquisition of a First Horizon (NYSE:FHN) deal giving the bank a capital boost.

Net interest income- the difference between what banks make on loans and pay out on deposits - rose 6.7% to C$6.29 billion at RBC and 3.5% to C$7.29 billion at TD.

RBC reported adjusted earnings of C$2.84 per share, beating analysts' estimates of C$2.71 per share, according to Refinitiv data.

The results also benefited from a low tax rate due to the Canada Recovery Dividend implemented in the 2023 budget.

TD's adjusted earnings of C$1.99 per share fell below the estimate of C$2.04.

The bank's earnings were also impacted by a C$306 million payment related to the termination of its First Horizon acquisition.

RBC and TD together account for half of the market share among the big six Canadian banks with a market capitalization of C$168 billion and C$151 billion respectively.

Their stocks have however underperformed, falling about 5% and 6% so far this year, compared to the broader index's 2.55% gain.

RBC's shares were up 1.6% while those of TD were down over 2%.