RBC Powers Ahead

Stephen Harris

31 May 2006

Royal Bank of Canada’s wealth management business has reported revenue of C$692 million ($629 million) up 20 per cent from C$575 million in the same period last year. Overall, RBC reported earnings in the second quarter of C$1.12 billion, up 23 per cent from C$907 million for the same period in 2005. The bank has done particularly well in its home nation where it has recorded mutual fund net sales of C$2.2 billion giving it the top net sales, a position that it has held for 10 straight quarters.