Royal Bank profit rises to $2.8B

Royal Bank of Canada has boosted its second-quarter net income by nine per cent to $2.81 billion.

That compares with $2.57 billion during the second quarter of 2016.

The profit amounted to $1.85 per share, compared with $1.66 per share during the same period last year.

The Toronto-based bank had $10.31 billion of revenue for the period ended April 30, up from $9.53 billion a year ago.

More to come