RBC chief executive Dave McKay and newly appointed chief financial officer Nadine Ahn end 2021 with much to be happy about. Revenues rose 5% and pre-provision profits rose 6%.
In 2021, the bank was able to release a net 17% of the total provisions that it took in 2020, a reflection of the quality of its performing portfolio. The biggest release among its domestic peers was 3%.
The bank ends the year with a record common equity tier-1 ratio of 13.7%,
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