Royal Bank of Canada

RY: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 625.00	Mjttv	Ygfrvxqzv

Royal Bank of Canada Earnings: Results Largely as Expected, Although Expenses Remain a Headwind

Eric Compton ,

Nov 30, 2023

Wide-moat-rated Royal Bank of Canada, or RBC, reported decent fourth-quarter results. Adjusted earnings per share came in at CAD 2.78, flat year over year. Provisioning increased 16% quarter over quarter, which is in line with our expectations of increasing credit costs for all Canadian banks in the coming quarters. The current results do not fundamentally change our view on RBC or our CAD 130/USD 95 fair value estimates.

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