Royal Bank of Canada reported net income of C$16.2 billion for the fiscal year ended 31 October 2024, an 11% increase from the prior year, as the bank released its full-year results on 4 December 2024. The result marked the first fiscal year in which RBC's financials included the operations of HSBC Canada, which the bank acquired on 28 March 2024 and whose results added C$453 million to net income.
Diluted earnings per share for the year came in at C$11.25, up 9% year-on-year, while adjusted net income reached C$17.4 billion, representing a 10% increase on an adjusted basis.
The adjusted net income figure of C$17.4 billion excludes specified items.
SEGMENT RESULTS
Capital Markets earnings rose 10% on higher Corporate & Investment Banking revenue and a recovering industry-wide fee pool, particularly in the U.S. and Europe.