RY · TORONTO
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Updated Nov 14, 2025
Royal Bank of Canada reported PTPP earnings of CAD 6,973 million, surpassing estimates and demonstrating its robust financial performance. The bank's strategic acquisition of HSBC Canada is expected to enhance its positioning in the Personal and Commercial Banking sectors, contributing to future growth. Additionally, RBC's consistent resilience and strong market presence in Canada, combined with its diversified service offerings, support a positive outlook for the institution.
Royal Bank of Canada's core cash earnings per share (EPS) estimates for fiscal 2025 and 2026 have declined by 1%, primarily reflecting a quarterly earnings miss and anticipated higher credit losses due to management's updated guidance. The core lending net interest margin (NIM) decreased slightly to 1.67%, while specific segments showed mixed performance, with Personal Banking NIM improving, but Commercial Banking NIM experiencing a decline. These factors contribute to a cautious outlook, as indicated by a modest reduction in the price target, now set at $186, which is based on an unchanged price-to-earnings multiple of 12.8 times the estimated EPS for fiscal 2026.
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