My finance view

Royal Bank has turned in a first-quarter profit of $1.05 billion, down 15 per cent from last year’s $1.25 billion but above levels expected by most analysts.

Canada’s biggest bank (TSX: RY) said the turbulent market environment reduced earnings by $646 million.

But its adjusted cash earnings per share amounted to $1.18, well above a consensus forecast for 94 cents according to Thomson Reuters.

Total revenue rose to $6 payday loans for bad credit.94 billion from $5.65 billion in the prior-year period.

The bank left its quarterly dividend unchanged at 50 cents per share.

Canadian banks have so far vastly outperformed their American counterparts, ho have not weathered the economic storm very well, many requiring billion of dollars in government help.

Source