RBC Sees Strong Growth, Targets Record ROE

Royal Bank of Canada (RBC) has made significant progress toward its strategic and financial objectives, according to Chief Financial Officer Katherine Gibson. Speaking at a Barclays event, Gibson pointed to third-quarter results that included an impressive return on equity (ROE) of just over 18%. The bank's year-to-date 2026 ROE was 17.6%, compared with 16.7% in 2025 and 15.5% in 2024.

Gibson emphasized that RBC views its medium-term objective of 17% plus as a target, not a ceiling. The bank has made strides in growth across Canadian and global businesses, improved profitability, and demonstrated cost discipline. In Canada, mortgage balances rose 4% year over year in the third quarter, with about half of market-share growth during that period.

RBC is gaining share in investment banking, has launched a Global Transaction Banking initiative, and is advancing its 'one region, one RBC' strategy in the United States. The bank reported an efficiency ratio of just over 52% in the third quarter, ahead of its 53% Investor Day target.