May 19, 2020

Royal Bank of Canada Announces Q2 2011 Figures

Bizclik Editor
4 min
Royal Bank of Canada Announces Q2 2011 Figures

<p>
&nbsp;</p>
<p align="left" style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
<span class="Apple-style-span" style="color: rgb(34, 34, 34); font-family: Arial, Verdana, sans-serif; font-size: 12px; "><span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">TORONTO</span>,&nbsp;<span class="xn-chron" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Aug. 19, 2011</span>&nbsp;/&nbsp;</span><span data-scayt_word="CNWRoyal" data-scaytid="8"><span class="Apple-style-span" style="color: rgb(34, 34, 34); font-family: Arial, Verdana, sans-serif; font-size: 12px; ">CNW</span>Royal</span> Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>&nbsp;(<span data-scayt_word="RY" data-scaytid="9">RY</span> on <span data-scayt_word="TSX" data-scaytid="11">TSX</span> and NYSE) today announced that its <span data-scayt_word="Q2" data-scaytid="13">Q2</span> 2011 Supplementary Financial Information, which reflects the&nbsp;<span class="xn-chron" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">June 20, 2011</span>&nbsp;<a href="http://www.canada.businesschief.com/money_matters/rbc-to-sell-us-banks-…; of a definitive agreement to sell its <span data-scayt_word="U.S" data-scaytid="1">U.S</span>. regional retail banking operations to PNC Financial Services Group, Inc. (PNC), is now available on its website. The results of these operations will be classified as discontinued operations and the third quarter of 2011 will include the previously announced after-tax loss on sale of approximately C$1.6 billion under Canadian generally accepted accounting principles (<span data-scayt_word="GAAP" data-scaytid="15">GAAP</span>), which includes an estimated write off of goodwill and intangibles of C$1.3 billion after-tax (C$1.4 billion pre-tax).</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
The historical financial information reflecting discontinued operations has no impact on previously reported consolidated financial information of Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada&nbsp;</span>and is available for download at&nbsp;<a href="http://www.rbc.com/investorrelations/ir_quarterly.html&quot; style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(242, 135, 62); text-decoration: none; "><span data-scayt_word="//www.rbc.com&quot; data-scaytid="4">www.rbc.com</span>/<span data-scayt_word="investorrelations" data-scaytid="16">investorrelations</span>/<span data-scayt_word="ir_quarterly.html" data-scaytid="6">ir_quarterly.html</span></a>.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>&nbsp;will release its third quarter results on&nbsp;<span class="xn-chron" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">August 26, 2011</span>.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
For further information, please visit&nbsp;<a href="http://www.rbc.com/investorrelations&quot; style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(242, 135, 62); text-decoration: none; "><span data-scayt_word="//www.rbc.com&quot; data-scaytid="5">www.rbc.com</span>/<span data-scayt_word="investorrelations" data-scaytid="17">investorrelations</span></a>.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
<b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(0, 0, 0); ">CAUTION REGARDING FORWARD-LOOKING STATEMENTS</b><br style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; " />
<br style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; " />
From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including the &quot;safe <span data-scayt_word="harbour" data-scaytid="18">harbour</span>&quot; provisions of the&nbsp;<i style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; "><span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">United States</span>&nbsp;Private Securities Litigation Reform Act of 1995</i>&nbsp;and any applicable Canadian securities legislation. We may make forward-looking statements in this press release, in other filings with Canadian regulators or the SEC, in reports to shareholders and in other communications. Forward-looking statements include, but are not limited to, statements relating to our expected losses related to the sale of our <span data-scayt_word="U.S" data-scaytid="2">U.S</span>. regional retail banking operations. The forward-looking information contained in this release is presented for the purpose of assisting the holders of our securities and financial analysts in understanding our future results of operations.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions and other forward-looking information, including statements about the acquisition of RBC Bank by PNC will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors could cause our actual results to differ materially from the expectations expressed in such forward-looking statements. These factors - many of which are beyond our control and the effects of which can be difficult to predict - include, but are not limited to, the possibility that the proposed transaction does not close when expected or at all because required regulatory or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, that Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>&nbsp;or PNC may be required to modify the terms and conditions of the proposed transaction to achieve regulatory approval, or that the anticipated benefits of the transaction are not realized as a result of such things as the strength of the economy and competitive factors in the areas where RBC Bank does business; the impact of changes in the laws and regulations regulating financial services and enforcement thereof (including banking, insurance and securities); judicial or regulatory judgments and legal proceedings; the ability of PNC to complete the transaction; <span data-scayt_word="reputational" data-scaytid="19">reputational</span> risks, and other factors that may affect future results of RBC.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results. Additional information about these and other factors can be found in the Risk management section of our 2010 Annual Report and in our <span data-scayt_word="Q2" data-scaytid="14">Q2</span> 2011 Report to Shareholders.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
Except as required by law, we do not undertake to update any forward-looking statement contained in this press release.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
<b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(0, 0, 0); ">ABOUT RBC</b><br style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; " />
Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>&nbsp;(<span data-scayt_word="RY" data-scaytid="10">RY</span> on <span data-scayt_word="TSX" data-scaytid="12">TSX</span> and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada&#39;s largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. We are one of North America&#39;s leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 79,000 full- and part-time employees who serve close to 16 million personal, business, public sector and institutional clients through offices in&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>, the <span data-scayt_word="U.S" data-scaytid="3">U.S</span>. and 56 other countries. For more information, please visit <span data-scayt_word="rbc.com" data-scaytid="7">rbc.com</span>.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
Trademarks used in this release include the LION &amp; GLOBE Symbol, ROYAL BANK OF&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">CANADA</span><b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(0, 0, 0); ">&nbsp;</b>and RBC which are trademarks of Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada</span>&nbsp;used by Royal Bank of&nbsp;<span class="xn-location" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; ">Canada&nbsp;</span>and/or by its subsidiaries under license.<b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Helvetica, Arial, Verdana, sans-serif; color: rgb(0, 0, 0); ">&nbsp;</b>RBC <span data-scayt_word="Dexia" data-scaytid="20">Dexia</span> IS and affiliated <span data-scayt_word="Dexia" data-scaytid="21">Dexia</span> companies are licensed users of the RBC trademark.</p>
<p style="margin-top: 13px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: helvetica, arial, sans-serif; font-size: 13px; color: rgb(0, 0, 0); ">
<em>Edited by: Kristin <span data-scayt_word="Craik" data-scaytid="22">Craik</span></em></p>

Share article