Royal Bank Q1 Adjusted EPS Hits $4.08, Repurchases 4M Shares for CAD 1B
Royal Bank of Canada posted record Q1 adjusted EPS of $4.08, a 13% year-over-year increase, while repurchasing over 4 million shares for about CAD 1 billion and boosting its CET1 ratio to 13.7%. It reported adjusted net income of CAD 5.9 billion on record revenue of CAD 18 billion.
1. Q1 Financial Highlights
Royal Bank of Canada delivered record first-quarter results with diluted EPS of $4.03 and adjusted EPS of $4.08, a 13% year-over-year increase. It reported CAD 5.8 billion in reported earnings and CAD 5.9 billion adjusted net income on record revenue of nearly CAD 18 billion and PPPT earnings of CAD 8.5 billion, up 14%.
2. Segment Performance
Wealth Management generated over CAD 6 billion in revenue with net income up 32% year-over-year, and Canadian Wealth assets under administration surpassed CAD 1 trillion. Capital Markets posted CAD 4 billion in revenue, while Canadian banking achieved CAD 2 billion net income, 4% loan growth and flat deposits, supported by a 50% quarterly increase in retail money inflows.
3. Capital Strength and Share Repurchases
CET1 ratio rose to 13.7%, up 20 basis points from the prior quarter, driven by 79 basis points of internal capital generation. The bank repurchased more than 4 million shares for approximately CAD 1 billion, partially offsetting capital impacts from higher dividends and risk-weighted asset growth.