RBC reports Q2 profit up 25 per cent from year ago, raises dividend

Royal Bank of Canada signage is pictured in the financial district in Toronto on September 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj

TORONTO — Royal Bank of Canada raised its quarterly dividend as it reported its second-quarter profit rose 25 per cent compared with a year earlier.

The bank said Thursday it will now pay a quarterly dividend of $1.76 per share, an increase from $1.64 per share.

The increased payment to shareholders came as RBC says it earned $5.51 billion or $3.85 per diluted share for the quarter ended April 30, up from a profit of $4.39 billion or $3.02 per diluted share a year earlier.

Revenue totalled $17.45 billion for the quarter, up from $15.67 billion in the same quarter last year, while the bank’s provision for credit losses amounted to $912 million, down from $1.42 billion a year ago.

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On an adjusted basis, RBC says it earned $3.90 per diluted share in its latest quarter, up from an adjusted profit of $3.12 per diluted share in the same quarter last year.

Analysts on average had expected an adjusted profit of $3.78 per share, according to LSEG Data & Analytics.

“Our second-quarter earnings showcase our consistency in delivering premium profitability and long-term shareholder value, underpinned by solid growth across our diversified businesses and balance sheet strength,” RBC chief executive Dave McKay said in a statement.

RBC said its personal banking group earned $1.87 billion, up from $1.60 billion in the same quarter last year helped by higher net interest income and lower provisions for credit losses as well as higher fee-based client assets.

The bank’s commercial banking operations earned $854 million in the quarter, up from $597 million a year earlier, while its wealth management business earned $1.19 billion, up from $929 million in the same quarter last year.

RBC’s insurance business earned $218 million, up from $211 million a year ago, and its capital markets business earned $1.48 billion, up from $1.20 billion a year earlier.

This report by The Canadian Press was first published May 28, 2026.