Royal Bank of Canada reported second-quarter net income of $5.5 billion, a 25% increase from the previous year. Adjusted earnings per share reached $3.90, surpassing analyst expectations. Growth in wealth management and capital markets fueled the strong performance. Provisions for credit losses dropped to $912 million from $1.42 billion a year earlier.
RBC increased its quarterly dividend to $1.76 per share. The bank authorized a share buyback program for up to 45 million common shares. The Common Equity Tier 1 (CET1) ratio remained robust at 13.5%.