Proactive Investors - Royal Bank of Canada (TSX:RY) reported a drop in full-year profit on rising costs, although earnings rose in the fourth quarter.
For the three months to October 31, revenue rose 3.7% on-year to C$13.03 billion, from C$12.57 billion a year before.
Net income advanced 6.4% to C$4.13 billion from C$3.88 billion while basic earnings per share improved to C$2.90 from C$2.75.
Revenue in its Personal & Commercial Banking arm rose 5.5% year-on-year to C$5.72 billion, though Wealth Management revenue fell 2.3% to C$4.19 billion.
Capital Markets revenue climbed 2.3% to C$2.56 billion, which RBC put down to higher fixed income trading in the US.
For the year, revenue was up 15% at C$56.13 billion from C$48.99 billion but net income fell 6.0% to C$14.87 billion from C$5.81 billion.
RBC lifted its final dividend by 7.7% to C$5.34 per share from C$4.96. Its fourth-quarter payout increased 5.5% to C$1.35.
RBC shares were 1.3% higher during pre-market dealings in New York on Thursday.