TORONTO - Royal Bank of Canada saw a big bump in profits last quarter, propelled by loan growth and higher interest rates at its personal and commercial banking business. The seven per cent boost in net income came despite a big uptick in provisions on impaired loans. “Regulatory changes have helped some of the Canadian major housing markets stabilize, particularly in Ontario and to the East. The country’s biggest bank by market value earned $3.23 billion in its latest quarter, helped by growth in its capital markets, personal and commercial banking and wealth management businesses. The result compared with a profit of $3.06 billion or $2.06 per diluted share a year ago.

Source: thestar May 23, 2019 10:41 UTC