The goodwill impairment charge is a non-cash item and does not affect our ongoing operations or our capital ratios. However, Canadian Banking generated volume growth across all businesses and Capital Markets produced strong earnings by capitalizing on market conditions.
Gordon M. Nixon, RBC President and CEO, said, “The environment remains challenging, but our company is strong and we are taking advantage of opportunities in the marketplace. This quarter, we generated cash net income of almost C$1 billion.”
“Clients are choosing to do more business with us, reflecting our brand, our financial strength and our expertise. Across our enterprise, our people are providing advice to help our clients create what is important to them today as they plan for their future,” he added.
