RBC Posts Record-Breaking Q3 Earnings with 11% Profit Growth
Royal Bank of Canada (RBC) has reported its Q3 2026 earnings, beating analyst forecasts and showing significant growth in various segments. The bank's profit reached $6.0 billion for the quarter ended July 31, a 11% increase from the same period last year.
Wealth management and capital markets were the main drivers of RBC's earnings momentum, with net income reaching $1,442 million and $1,544 million respectively. These two segments accounted for the bulk of the quarter's earnings growth.
The bank's commercial banking segment also returned to form, with net income increasing by 12% from a year ago, driven by average deposit volume growth of 9% and loan volume growth of 4%. However, credit losses rose as mortgage renewals weighed on the outlook.