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RBC: Latest News

All news where RBC is mentioned

28.05.2023 / 16:15

Canada’s banks are guarding against bad loans. What this means for your money

Nestled in the balance sheets of Canada’s biggest banks are fears that the economy is set for a rough patch that could see more Canadians defaulting on their loans.

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Canada’s banks brace for possible wave of loan defaults. Why that matters

Canada’s biggest banks saw the country’s major lenders move in lockstep ahead of a projected economic downturn, with each putting more money away for a possible rise in credit losses.Experts say the more expensive cost of borrowing in Canada and the possibility of job losses could catch up to households and push a growing number into default, though some believe the worst of the debt pain is likely at least a year away.Canada’s big six banks — TD Bank, RBC, BMO, Scotiabank, CIBC and National Bank — all reported earnings for their first fiscal quarters this week, with similar-sounding results. All reported a dip in profits as they put more money aside to handle credit losses.

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When will home prices bottom out in Canada? RBC says spring

One of Canada’s big banks is calling for the country’s cooling housing market to hit a low point in the spring before fully adjusting to rising interest rates.

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90-year-old RBC client allegedly lost $60K to fraud by longtime advisor

Have a complaint against your bank? You may face an uphill battle, watchdog report suggests Yu and her sister Donna Koh allege their mother was the victim of fraud perpetrated by her longtime financial planner at Royal Mutual Funds Inc. (RMFI), a mutual funds dealer and RBC subsidiary.

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RBC reports $3.2B profit, record earnings in capital markets business

Royal Bank of Canada topped expectations as it reported a profit of $3.20 billion for its latest quarter compared with $3.26 billion a year earlier.The bank says the result came as it posted record earnings in its capital markets business as well as solid earnings in insurance, offset by lower results in its personal and commercial banking, wealth management and investor and treasury services businesses.The profit amounted to $2.20 per diluted share for the quarter ended July 31, down from $2.22 per diluted share a year ago.

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COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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