Royal Bank of Canada, Toronto-Dominion Profits Top Estimates
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Royal Bank of Canada and Toronto-Dominion Bank, the country’s two biggest banks, raised their dividends after reporting profits that topped analysts’ estimates on record earnings from consumer lending.
Royal Bank’s first-quarter earnings from continuing operations fell 6 percent to C$1.88 billion ($1.91 billion), or C$1.23 a share, the Toronto-based bank said today in a statement. At Toronto-Dominion, net income for the period ended Jan. 31 declined 5.3 percent to C$1.48 billion, or C$1.55 a share, according to a statement.