Banks continue to report quite strong earnings.RBC, and NA rerported today:
Royal Bank earns $16.05-billion in fiscal 2021
2021-12-01 04:41 ET - News Release
Mr. Dave McKay reports
ROYAL BANK OF CANADA REPORTS FOURTH QUARTER AND 2021 RESULTS
Royal Bank of Canada had net income of $16.1-billion for the year ended Oct. 31, 2021, up $4.6-billion or 40 per cent from the prior year. Our results this year included releases of provisions on performing loans of $1.4 billion, primarily driven by improvements in our macroeconomic and credit quality outlook. In comparison, the prior year reflected elevated provisions on performing loans of $2.6 billion due to the impact of the COVID-19 pandemic. Diluted EPS[6]was $11.06, up 41% from the prior year.
ORIGINAL: Royal Bank of Canada to repurchase up to 45 million of its common shares
2021-12-01 04:05 ET - News Release
TORONTO National Bank earns $3,177M in 2021, boosts dividend
2021-12-01 04:50 ET - News Release
Mr. Laurent Ferreira reports
NATIONAL BANK REPORTS ITS 2021 ANNUAL AND FOURTH-QUARTER RESULTS AND RAISES ITS QUARTERLY DIVIDEND BY 16 CENTS TO 87 CENTS PER SHARE
For the fourth quarter of 2021, National Bank of Canada had net income of $776-million compared with $492-million in the fourth quarter of 2020. Fourth-quarter diluted earnings per share stood at $2.19 compared to $1.36 in the fourth quarter of 2020. These increases were driven by total revenue growth in most of the business segments, by reversals of allowances for credit losses on non-impaired loans owing to improvements in the macroeconomic outlook and in credit conditions as well as by a reduction in provisions for credit losses on impaired loans compared to the fourth quarter of 2020. Income before provisions for credit losses and income taxes totalled $953 million in the fourth quarter of 2021 compared to $741 million in the fourth quarter of 2020, a 29% increase arising from good performance in most of the business segments, tempered by a year-over-year fourth-quarter slowdown in the Financial Markets segment.
ORIGINAL: Royal Bank of Canada to repurchase up to 45 million of its common shares
2021-12-01 04:05 ET - News Release
TORONTO