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Royal Bank of Canada (NYSE:RY) Q4 2024 Earnings Call Transcript


Published on 2024-12-05 09:01:09 - Bill Williamson, WOPRAI
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  • Q4 2024 Earnings Call Transcript December 4, 2024 Operator: Good morning, ladies and gentlemen. Welcome to the RBC's 2024 Fourth Quarter Results Conference Call. Please be advised that this call is being recorded.

The Royal Bank of Canada (NYSE: RY) held its Q4 2024 earnings call, where CEO Dave McKay and CFO Nadine Ahn discussed the bank's financial performance. They highlighted that despite a challenging economic environment, RBC achieved solid earnings with adjusted earnings per share of $2.90, up from $2.78 in the previous year. Key points included a 1% increase in net income to $4.3 billion, driven by growth in Canadian Banking and Wealth Management, although this was offset by higher provisions for credit losses due to economic uncertainties. The bank also noted a strong capital position with a Common Equity Tier 1 ratio of 14.5%. Strategic initiatives like digital transformation and cost management were emphasized, alongside the integration of HSBC Canada, which is expected to enhance RBC's market position. The call also touched on the bank's approach to managing risks, including cybersecurity and regulatory compliance, and provided an outlook for 2024, expecting continued growth but with cautious optimism due to potential economic headwinds.

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[ https://www.msn.com/en-us/money/other/royal-bank-of-canada-nyse-ry-q4-2024-earnings-call-transcript/ar-AA1vkidv ]