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SKIP TO MAIN CONTENT In the news * Purolator * TFSA * Unemployment * UnitedHealthcare Global News Home Subscribe Site theme toggle. Switch between light or dark mode Light Dark Live Search Site theme toggle. Switch between light or dark mode Light Dark GlobalNews home * Watch * World * Canada * Local * Politics * Money * Health * Entertainment * Lifestyle * Perspectives * Sports * Shopping * Commentary * Contests * Podcasts * U.S. News Taylor Swift concert sponsorship helps RBC add 600K clients in Q4, CEO says Click to return to homepage Leave a comment Share this item on Facebook Share this item via WhatsApp Share this item on Twitter Send this page to someone via email See more sharing options Full Menu Search Menu Home Trending Watch Local Menu MENU CLOSE Submit Search TOPICS * Watch * World * Canada * MontrealChange location * Politics * Money * Health * Entertainment * Lifestyle * Perspectives * Sports * Shopping * Commentary * Contests * Podcasts * U.S. News TV PROGRAMS * Global National * West Block * The Morning Show * Video Centre * More… CONNECT * Email alerts * Alexa * Breaking News Alerts from Global News * License Content * Contact Us Montreal Change Close Change Close * Barrie * BC * Calgary * Durham * Edmonton * Guelph * Halifax * Hamilton * Kingston * Kitchener * Lethbridge * London * Montreal * New Brunswick * Okanagan * Ottawa * Peterborough * Regina * Saskatoon * Toronto * Winnipeg Global News Facebook Pages Global News Twitter Accounts Global News Youtube Channel Global News on Instagram Global News on LinkedIn Global News on TikTok Global News on Telegram GO BACK CLOSE LOCAL YOUR LOCAL REGION Montreal * Barrie * BC * Calgary * Durham * Edmonton * Guelph * Halifax * Hamilton * Kingston * Kitchener * Lethbridge * London * Montreal * New Brunswick * Okanagan * Ottawa * Peterborough * Regina * Saskatoon * Toronto * Winnipeg SHARE CLOSE Share this item on Facebook facebook Share this item on Twitter twitter Send this page to someone via email email Share this item via WhatsApp whatsapp Share this item on Pocket pocket Share this item via Telegram telegram Share this item on Reddit reddit Copy article link Copy link CALENDAR CLOSE CALENDAR CLOSE * All event types * Comedy * Festival * Food * Health * Music * Sports * Theatre * Virtual * Other SEARCH CLOSE Submit search QUICK SEARCH * * * * * * TRENDING NOW * * * * * * ADD GLOBAL NEWS TO HOME SCREEN CLOSE Instructions: 1. Press the share icon on your browser 2. Select Add to Home Screen 3. Press Add COMMENTS CLOSE COMMENTS MENU Want to discuss? Please read our Commenting Policy first. Video link Headline link Advertisement Close X Click to scroll back to top of the page Back to top Money TAYLOR SWIFT CONCERT SPONSORSHIP HELPS RBC ADD 600K CLIENTS IN Q4, CEO SAYS By Nivedita Balu and Arasu Kannagi Basil Reuters Posted December 4, 2024 3:45 pm 2 min read If you get Global News from Instagram or Facebook - that will be changing. Find out how you can still connect with us. Hide message bar 2:12 Business Matters: Royal Bank of Canada reports $4.22-billion Q4 profit, raises quarterly dividend Video will begin after these messages... close video mute video unmute video Royal Bank of Canada raised its dividend as it reported a fourth-quarter profit of $4.22 billion, up from $3.94 billion in the same quarter last year. The bank said Wednesday it will now pay a quarterly dividend of $1.48 per share, up from $1.42 per share. Anne Gaviola has this story and more in Business Matters for Dec. 4, 2024. Leave a comment Share this item on Facebook Share this item via WhatsApp Share this item on Twitter Send this page to someone via email See more sharing options SHARE CLOSE Share this item on Facebook facebook Share this item on Twitter twitter Send this page to someone via email email Share this item via WhatsApp whatsapp Share this item on Pocket pocket Share this item via Telegram telegram Share this item on Reddit reddit Copy article link Copy link Descrease article font size Increase article font size Royal Bank of Canada, the country’s biggest bank, beat quarterly profit expectations, helped by its acquisition of HSBC’s domestic business and strength at its wealth management arm, sending shares to a record high on Wednesday. CEO Dave McKay told analysts the bank added over 600,000 clients to its Canadian banking business, also helped by its sponsorship of singer Taylor Swift’s Toronto and Vancouver tour. RBC saw higher client interest in the U.S., a key market for its wealth management business. 4:40 BC Place prepares for a Swiftie invasion, what ticket holders need to know National Bank, the smallest of Canada’s six large banks – which together control over 90 per cent of the domestic market – also reported earnings above estimates, helped by a rise in income at its wealth management arm. Story continues below advertisement The wealth management business has been a big focus for Canadian banks as more high-net-worth clients and others are increasingly opting for services and advice to secure their financial futures. GET WEEKLY MONEY NEWS Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy. RBC’s wealth management division, which includes U.S. subsidiary City National, reported a threefold rise in income to C$969 million ($689 million) and recorded a recovery in loan loss provisions of C$25 million, largely helped by higher fees. The $10 billion acquisition of HSBC’s Canadian operation helped RBC increase earnings by C$86 million, adding about 780,000 clients to its retail and commercial business and expanding its mortgage and corporate loan books. “HSBC is a big part of the overall theme,” McKay said. More on Money More videos * Purolator, UPS shipments paused amid Canada Post strike * CRA confirms the TFSA contribution limit for 2025 * Why airlines keep cutting back — and can Ottawa do anything to stop it? * BMO changes rate cut call after surprise jump in Canada’s jobless rate * What you might not know about your TFSA * As Bitcoin surges past $100,000 USD, is investing in it safe? * Canada’s food prices predicted to rise 3-5% in 2025 * Which groceries are expected to see biggest increase in 2024? Jefferies analyst John Aiken noted that RBC’s “bigger than anticipated” quarterly dividend increase of 4% to C$1.48 per share signaled its confidence in the integration of HSBC Canada. Trending Now * UnitedHealthcare CEO gunned down in New York: Who was Brian Thompson? * Purolator, UPS shipments paused amid Canada Post strike McKay however had a cautious tone on the future, noting rising unemployment in Canada, more constrained immigration policy and the threat of U.S. tariffs. “You heard maybe a bit of a cautious outlook, it is just a macro call. It’s hard to make a macro call right now with so many variables, but we’re cautiously optimistic,” he told analysts. “We haven’t changed our forecast… We said whatever it is, we will adjust to that and that will play out as it does.” Story continues below advertisement Jefferies’ Aiken said the outlook for contributions from HSBC and City National, along with a rebound in capital markets bodes well for earnings growth next year. Provision for credit losses came in at C$840 million in the three months ended Oct. 31, compared with C$720 million a year ago. Analysts had forecast C$831.7 million, according to LSEG data. The bank’s adjusted net income rose 17.7% to C$4.44 billion. On a per share basis, RBC earned C$3.07, 6 Canadian cents higher than the analysts’ average estimate. National Bank reported adjusted earnings of C$2.58 per share, a cent more than expectations. Analysts said it was a “lower quality result” as its personal banking unit struggled. Its shares were down 3.5%. RBC’s shares rose as much as 2.4% to hit a record of C$179.86. Journalistic standards Comment Report an error © 2024 Reuters SPONSORED CONTENT More to Explore What is Outbrain 10 Interesting Facts About Earth's Oceans MORE FROM GLOBAL NEWS * BMO changes rate cut call after surprise jump in Canada’s jobless rate * TD and BMO stumble while CIBC rises to cap big bank earnings season Advertisement Money123 Financial news and insights delivered to your email every Saturday. Sign up for Money123 newsletter Sign Up TRENDING * CRA confirms the TFSA contribution limit for 2025 15,016 Read * Purolator, UPS shipments paused amid Canada Post strike 10,002 Read * Feds say these banned firearms are for battlefields, and may go to Ukraine 7,119 Read * UnitedHealthcare CEO gunned down in New York: Who was Brian Thompson? 5,086 Read * $80M Lotto Max jackpot split between winners in 2 provinces 5,041 Read * UnitedHealthcare CEO shooting: New clues emerge as gunman hunt continues 4,738 Read * TOP VIDEOS * Gunman leaves message at scene where UnitedHealthcare CEO was shot 391 Viewed * Canada Post strike: Union workers ready for mediation 307 Viewed * Killer on the loose: Motive behind UnitedHealthcare CEO Brian Thompson’s murder unknown 207 Viewed * Why NASA’s Artemis mission is being delayed to 2026 175 Viewed * What you might not know about your TFSA 143 Viewed * Shooting of UnitedHealthcare CEO Brian Thompson in NYC was ‘targeted’: police 110 Viewed * More Videos Money123 Financial news and insights delivered to your email every Saturday. 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