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Royal Bank profit beats expectations, but provisions for credit losses climb

Royal Bank profit beats expectations, but provisions for credit losses climb
Business
Total provisions for credit losses climbed to $426 million, up from $274 million in the same quarter last year, due to higher provisions in personal and commercial banking, wealth management and capital markets.

On an adjusted basis, RBC reported $2.23 in diluted cash earnings per share for the quarter, up from $2.10 per share a year ago.

Analysts on average had expected a profit of $2.21, according to Thomson Reuters Eikon.

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First of Canada s big banks to report misses expectations

Barrick offered a nine per cent discount to the London-listed Acacia’s closing price, valuing it at US$787 million
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