If it is possible to have a good pandemic, Royal Bank of Canada may have achieved it. With group revenues down just 2% in the fiscal year to the end of October, the bank was helped by a 34% rise in its equity and fixed income sales and trading business – a jump of almost C$1.6 billion ($1.25 billion).
It was another reminder of the advantage that RBC enjoys from its diverse mix of businesses and in particular from having by far the biggest investment bank franchise among its Canadian peers.
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