Royal Bank Of Canada 6-K, filed Nov 30, 2022

About this 6-K

Royal Bank Of Canada (RY)

6-K 2022-11-30 For: 2022-11-30

View Original

Added on July 04, 2026

ROYAL BANK OF CANADA

Date: November 30, 2022

/s/ Nadine Ahn

Nadine Ahn

Chief Financial Officer

Royal Bank Of Canada filed this 6-K on November 30, 2022.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Exhibit		Description of Exhibit

99.1		Fourth Quarter 2022 Earnings Release



Q4 2022 compared to Q4 2021	• Net income of $3,882 million	è 0%
	• Diluted EPS of $2.74	é 2%
	• ROEof 15.6%	ê 130 bps
	• CET1 ratio of 12.6%	ê 110 bps

Q4 2022 compared to Q3 2022	• Net income of $3,882 million	é 9%
	• Diluted EPS of $2.74	é 9%
	• ROEof 15.6%	é100 bps
	• CET1 ratio of 12.6%	ê 50 bps


	As at or for the three months ended									For the year ended
(Millions of Canadian dollars, except per share, number of and percentage amounts)	October 31 2022			July 31 2022			October 31 2021			October 31 2022			October 31 2021
Total revenue	$	12,567		$	12,132		$	12,376		$	48,985		$	49,693
Provision for credit losses (PCL)		381			340			(227	)		484			(753	)
Insurance policyholder benefits, claims and acquisition expense (PBCAE)		116			850			1,032			1,783			3,891
Non-interest expense		7,209			6,386			6,583			26,609			25,924
Income before income taxes		4,861			4,556			4,988			20,109			20,631
Net income	$	3,882		$	3,577		$	3,892		$	15,807		$	16,050
Segments - net income
Personal & Commercial Banking	$	2,139		$	2,023		$	2,033		$	8,370		$	7,847
Wealth Management		822			777			558			3,144			2,626
Insurance		268			186			267			857			889
Investor & Treasury Services		110			164			109			513			440
Capital Markets		617			479			920			2,921			4,187
Corporate Support		(74	)		(52	)		5			2			61
Net income	$	3,882		$	3,577		$	3,892		$	15,807		$	16,050
Selected information
Earnings per share (EPS) - basic	$	2.75		$	2.52		$	2.68		$	11.08		$	11.08
- diluted		2.74			2.51			2.68			11.06			11.06
Return on common equity (ROE) ⁽¹⁾		15.6	%		14.6	%		16.9	%		16.4	%		18.6	%
Average common equity ⁽¹⁾	$	97,150		$	95,750		$	89,500		$	94,700		$	84,850
Net interest margin (NIM) - on average earning assets, net ⁽²⁾		1.56	%		1.52	%		1.43	%		1.48	%		1.48	%
PCL on loans as a % of average net loans and acceptances		0.18	%		0.17	%		(0.12	)%		0.06	%		(0.10	)%
PCL on performing loans as a % of average net loans and acceptances		0.06	%		0.09	%		(0.19	)%		(0.04	)%		(0.20	)%
PCL on impaired loans as a % of average net loans and acceptances		0.12	%		0.08	%		0.07	%		0.10	%		0.10	%
Gross impaired loans (GIL) as a % of loans and acceptances		0.26	%		0.25	%		0.31	%		0.26	%		0.31	%
Liquidity coverage ratio (LCR) ⁽³⁾		125	%		123	%		123	%		125	%		123	%
Net stable funding ratio (NSFR) ⁽³⁾		112	%		113	%		116	%		112	%		116	%
Capital ratios and Leverage ratio ⁽⁴⁾
Common Equity Tier 1 (CET1) ratio		12.6	%		13.1	%		13.7	%		12.6	%		13.7	%
Tier 1 capital ratio		13.8	%		14.3	%		14.9	%		13.8	%		14.9	%
Total capital ratio		15.4	%		15.9	%		16.7	%		15.4	%		16.7	%
Leverage ratio		4.4	%		4.6	%		4.9	%		4.4	%		4.9	%
TLAC ratio (⁵⁾		26.4	%		27.6	%		n.a.			26.4	%		n.a.
TLAC leverage ratio⁽⁵⁾		8.5	%		8.8	%		n.a.			8.5	%		n.a.
Selected balance sheet and other information ⁽⁶⁾
Total assets	$	1,917,219		$	1,842,092		$	1,706,323		$	1,917,219		$	1,706,323
Securities, net of applicable allowance		318,223			298,795			284,724			318,223			284,724
Loans, net of allowance for loan losses		819,965			796,314			717,575			819,965			717,575
Derivative related assets		154,439			122,058			95,541			154,439			95,541
Deposits		1,208,814			1,178,604			1,100,831			1,208,814			1,100,831
Common equity		100,746			96,570			91,983			100,746			91,983
Total risk-weighted assets		609,879			589,050			552,541			609,879			552,541
Assets under management (AUM) ⁽²⁾		999,700			937,700			1,008,700			999,700			1,008,700
Assets under administration (AUA) ^{(2), (7)}		5,649,700			5,748,900			6,347,300			5,649,700			6,347,300
Common share information
Shares outstanding (000s) - average basic		1,386,925			1,396,381			1,424,534			1,403,654			1,424,343
- average diluted		1,388,548			1,398,667			1,427,225			1,406,034			1,426,735
- end of period		1,382,911			1,390,629			1,424,525			1,382,911			1,424,525
Dividends declared per common share	$	1.28		$	1.28		$	1.08		$	4.96		$	4.32
Dividend yield ⁽²⁾		4.0	%		3.9	%		3.3	%		3.7	%		3.8	%
Dividend payout ratio ⁽²⁾		47	%		51	%		40	%		45	%		39	%
Common share price (RY on TSX) ⁽⁸⁾	$	126.05		$	124.86		$	128.82		$	126.05		$	128.82
Market capitalization (TSX) ⁽⁸⁾		174,316			173,634			183,507			174,316			183,507
Business information (number of)
Employees (full-time equivalent) (FTE)		91,427			88,541			85,301			91,427			85,301
Bank branches		1,271			1,283			1,295			1,271			1,295
Automated teller machines (ATMs)		4,368			4,364			4,378			4,368			4,378
Period average US$ equivalent of C$1.00 ⁽⁹⁾	$	0.739		$	0.783		$	0.796		$	0.774		$	0.796
Period-end US$ equivalent of C$1.00	$	0.734		$	0.781		$	0.808		$	0.734		$	0.808


	As at or for the three months ended
	October 31			July 31			October 31
(Millions of Canadian dollars, except percentage amounts and as otherwise noted)	2022			2022			2021
Net interest income	$	3,901		$	3,655		$	3,169
Non-interest income		1,518			1,527			1,436
Total revenue		5,419			5,182			4,605
PCL on performing assets		56			141			(342	)
PCL on impaired assets		230			183			134
PCL		286			324			(208	)
Non-interest expense		2,270			2,130			2,087
Income before income taxes		2,863			2,728			2,726
Net income	$	2,139		$	2,023		$	2,033
Revenue by business
Canadian Banking	$	5,179		$	4,974		$	4,414
Caribbean & U.S. Banking		240			208			191
Selected balances and other information
ROE		30.5	%		29.2	%		32.5	%
NIM		2.72	%		2.61	%		2.42	%
Efficiency ratio ⁽¹⁾		41.9	%		41.1	%		45.3	%
Operating leverage ⁽²⁾		8.9	%		4.8	%		2.5	%
Average total assets	$	597,600		$	582,700		$	543,900
Average total earning assets, net		569,000			555,400			518,900
Average loans and acceptances, net		574,300			560,300			522,200
Average deposits		570,200			555,300			524,300
AUA ^{(3), (4)}		336,400			346,500			367,700
Average AUA		338,300			343,500			363,500
AUM ⁽⁴⁾		5,600			5,400			5,400
PCL on impaired loans as a % of average net loans and acceptances		0.16	%		0.13	%		0.10	%
Other selected information - Canadian Banking
Net income	$	1,999		$	1,971		$	1,970
NIM		2.70	%		2.60	%		2.42	%
Efficiency ratio		40.3	%		39.7	%		43.8	%
Operating leverage		9.2	%		4.5	%		2.7	%


Wealth Management
	As at or for the three months ended
	October 31			July 31			October 31
(Millions of Canadian dollars, except number of and percentage amounts and as otherwise noted)	2022			2022			2021
Net interest income	$	1,149		$	960		$	675
Non-interest income		2,827			2,695			2,769
Total revenue		3,976			3,655			3,444
PCL on performing assets		52			12			(7	)
PCL on impaired assets		11			1			12
PCL		63			13			5
Non-interest expense		2,858			2,618			2,718
Income before income taxes		1,055			1,024			721
Net income	$	822		$	777		$	558
Revenue by business
Canadian Wealth Management	$	1,095		$	1,070		$	1,032
U.S. Wealth Management (including City National)		2,068			1,878			1,628
U.S. Wealth Management (including City National) (US$ millions)		1,529			1,470			1,296
Global Asset Management		644			609			711
International Wealth Management		169			98			73
Selected balances and other information
ROE		15.6	%		16.0	%		13.1	%
NIM		3.08	%		2.75	%		2.06	%
Pre-tax margin ⁽¹⁾		26.5	%		28.0	%		20.9	%
Selected average balance sheet information
Average total assets	$	165,100		$	154,700		$	146,600
Average total earning assets, net		148,000			138,700			130,000
Average loans and acceptances, net		109,200			101,100			87,000
Average deposits		157,900			156,800			151,500
Other information
AUA - total ^{(2), (3)}		1,387,900			1,295,100			1,322,300
- U.S. Wealth Management (including City National) ⁽²⁾		700,100			683,400			704,200
- U.S. Wealth Management (including City National) (US$ millions) ⁽²⁾		513,700			533,600			568,800
AUM ⁽²⁾		991,500			929,600			1,000,600
Average AUA		1,316,500			1,278,700			1,314,100
Average AUM		942,000			922,000			997,400
PCL on impaired loans as a % of average net loans and acceptances		0.04	%		0.01	%		0.05	%
Number of advisors ⁽³⁾		6,158			5,622			5,548


	For the three months ended
Estimated impact of U.S. dollar, British pound and Euro translation on key income statement items (Millions of Canadian dollars, except percentage amounts)	Q4 2022 vs Q4 2021			Q4 2022 vs Q3 2022
Increase (decrease):
Total revenue	$	121		$	112
Non-interest expense		99			90
Net income		12			14
Percentage change in average US$ equivalent of C$1.00		(7	)%		(6	)%
Percentage change in average British pound equivalent of C$1.00		11	%		2	%
Percentage change in average Euro equivalent of C$1.00		9	%		0	%


Capital Markets

	As at or for the three months ended
(Millions of Canadian dollars, except percentage amounts)	October 31 2022			July 31 2022			October 31 2021
Net interest income ⁽¹⁾	$	1,140		$	1,136		$	1,111
Non-interest income ⁽¹⁾		1,173			513			1,187
Total revenue ⁽¹⁾		2,313			1,649			2,298
PCL on performing assets		19			19			(11	)
PCL on impaired assets		13			(13	)		(11	)
PCL		32			6			(22	)
Non-interest expense		1,616			1,123			1,155
Income before income taxes		665			520			1,165
Net income	$	617		$	479		$	920
Revenue by business
Corporate and Investment Banking	$	1,168		$	625		$	1,225
Global Markets		1,255			1,142			1,122
Other		(110	)		(118	)		(49	)
Selected balances and other information
ROE		9.2	%		7.1	%		16.1	%
Average total assets	$	884,500		$	812,700		$	717,000
Average trading securities		126,800			128,400			125,300
Average loans and acceptances, net		130,800			126,000			106,100
Average deposits		81,300			75,700			73,700
PCL on impaired loans as a % of average net loans and acceptances		0.03	%		(0.04	)%		(0.04	)%


	As at or for the three months ended
(Millions of Canadian dollars)	October 31 2022			July 31 2022			October 31 2021
Net interest income (loss) ⁽¹⁾	$	93		$	(49	)	$	(49	)
Non-interest income (loss) ^{(1), (2)}		(381	)		(120	)		29
Total revenue ^{(1), (2)}		(288	)		(169	)		(20	)
PCL		-			-			-
Non-interest expense ⁽²⁾		(69	)		2			59
Income (loss) before income taxes ⁽¹⁾		(219	)		(171	)		(79	)
Income taxes (recoveries) ⁽¹⁾		(145	)		(119	)		(84	)
Net income (loss)	$	(74	)	$	(52	)	$	5


	As at
(Millions of Canadian dollars)	October 31 2022 ⁽¹⁾			July 31 2022 ⁽²⁾			October 31 2021 ⁽¹⁾

Assets
Cash and due from banks	$	72,397		$	89,110		$	113,846
Interest-bearing deposits with banks		108,011			98,145			79,638

Securities
Trading		148,205			141,986			139,240
Investment, net of applicable allowance		170,018			156,809			145,484
		318,223			298,795			284,724
Assets purchased under reverse repurchase agreements and securities borrowed		317,845			318,565			307,903

Loans
Retail		549,751			538,389			503,598
Wholesale		273,967			261,592			218,066
		823,718			799,981			721,664
Allowance for loan losses		(3,753	)		(3,667	)		(4,089	)
		819,965			796,314			717,575
Segregated fund net assets		2,638			2,690			2,666

Other
Customers’ liability under acceptances		17,827			17,360			19,798
Derivatives		154,439			122,058			95,541
Premises and equipment		7,214			7,142			7,424
Goodwill		12,277			10,933			10,854
Other intangibles		6,083			4,383			4,471
Other assets		80,300			76,597			61,883
		278,140			238,473			199,971
Total assets	$	1,917,219		$	1,842,092		$	1,706,323

Liabilities and equity

Deposits
Personal	$	404,932		$	392,267		$	362,488
Business and government		759,870			739,467			696,353
Bank		44,012			46,870			41,990
		1,208,814			1,178,604			1,100,831
Segregated fund net liabilities		2,638			2,690			2,666

Other
Acceptances		17,872			17,390			19,873
Obligations related to securities sold short		35,511			38,504			37,841
Obligations related to assets sold under repurchase agreements and securities loaned		273,947			281,149			262,201
Derivatives		153,491			119,868			91,439
Insurance claims and policy benefit liabilities		11,511			12,033			12,816
Other liabilities		95,235			77,745			70,301
		587,567			546,689			494,471
Subordinated debentures		10,025			10,111			9,593
Total liabilities		1,809,044			1,738,094			1,607,561
Equity attributable to shareholders
Preferred shares and other equity instruments		7,318			7,328			6,684
Common shares		16,984			17,092			17,655
Retained earnings		78,037			76,466			71,795
Other components of equity		5,725			3,012			2,533
		108,064			103,898			98,667
Non-controlling interests		111			100			95
Total equity		108,175			103,998			98,762
Total liabilities and equity	$	1,917,219		$	1,842,092		$	1,706,323


	For the three months ended October 31, 2022 (1)
															Other components of equity
(Millions of Canadian dollars)	Preferred shares and other equity instruments		Common shares			Treasury - preferred shares and other equity instruments			Treasury - common shares			Retained earnings			FVOCI securities and loans			Foreign currency translation		Cash flow hedges		Total other components of equity		Equity attributable to shareholders			Non-controlling interests			Total equity
Balance at beginning of period	$	7,323	$	17,367		$	5		$	(275	)	$	76,466		$	(1,527	)	$	3,108	$	1,431	$	3,012	$	103,898		$	100		$	103,998
Changes in equity
Issues of share capital and other equity instruments		-		49			-			-			-			-			-		-		-		49			-			49
Common shares purchased for cancellation		-		(98	)		-			-			(884	)		-			-		-		-		(982	)		-			(982	)
Redemption of preferred shares and other equity instruments		-		-			-			-			-			-			-		-		-		-			-			-
Sales of treasury shares and other equity instruments		-		-			50			1,034			-			-			-		-		-		1,084			-			1,084
Purchases of treasury shares and other equity instruments		-		-			(60	)		(1,093	)		-			-			-		-		-		(1,153	)		-			(1,153	)
Share-based compensation awards		-		-			-			-			-			-			-		-		-		-			-			-
Dividends on common shares		-		-			-			-			(1,774	)		-			-		-		-		(1,774	)		-			(1,774	)
Dividends on preferred shares and distributions on other equity instruments		-		-			-			-			(67	)		-			-		-		-		(67	)		(1	)		(68	)
Other		-		-			-			-			(59	)		-			-		-		-		(59	)		-			(59	)
Net income		-		-			-			-			3,876			-			-		-		-		3,876			6			3,882
Total other comprehensive income (loss), net of taxes		-		-			-			-			479			(830	)		2,580		963		2,713		3,192			6			3,198
Balance at end of period	$	7,323	$	17,318		$	(5	)	$	(334	)	$	78,037		$	(2,357	)	$	5,688	$	2,394	$	5,725	$	108,064		$	111		$	108,175



	For the three months ended October 31, 2021 (1)
															Other components of equity
(Millions of Canadian dollars)	Preferred shares and other equity instruments			Common shares		Treasury - preferred shares and other equity instruments			Treasury - common shares			Retained earnings			FVOCI securities and loans			Foreign currency translation			Cash flow hedges			Total other components of equity		Equity attributable to shareholders			Non-controlling interests			Total equity
Balance at beginning of period	$	7,473		$	17,713	$	(57	)	$	(57	)	$	68,951		$	107		$	2,389		$	(300	)	$	2,196	$	96,219		$	91		$	96,310
Changes in equity
Issues of share capital and other equity instruments		-			15		-			-			-			-			-			-			-		15			-			15
Common shares purchased for cancellation		-			-		-			-			-			-			-			-			-		-			-			-
Redemption of preferred shares and other equity instruments		(750	)		-		-			-			-			-			-			-			-		(750	)		-			(750	)
Sales of treasury shares and other equity instruments		-			-		205			994			-			-			-			-			-		1,199			-			1,199
Purchases of treasury shares and other equity instruments
instruments		-			-		(187	)		(1,010	)		-			-			-			-			-		(1,197	)		-			(1,197	)
Share-based compensation awards		-			-		-			-			(2	)		-			-			-			-		(2	)		-			(2	)
Dividends on common shares		-			-		-			-			(1,540	)		-			-			-			-		(1,540	)		-			(1,540	)
Dividends on preferred shares and distributions on other equity instruments		-			-		-			-			(68	)		-			-			-			-		(68	)		-			(68	)
Other		-			-		-			-			4			-			-			-			-		4			-			4
Net income		-			-		-			-			3,887			-			-			-			-		3,887			5			3,892
Total other comprehensive income (loss), net of taxes		-			-		-			-			563			(195	)		(334	)		866			337		900			(1	)		899
Balance at end of period	$	6,723		$	17,728	$	(39	)	$	(73	)	$	71,795		$	(88	)	$	2,055		$	566		$	2,533	$	98,667		$	95		$	98,762


	For the year ended October 31, 2022 (1)
																Other components of equity
(Millions of Canadian dollars)	Preferred shares and other equity instruments			Common shares			Treasury - preferred shares and other equity instruments			Treasury - common shares			Retained earnings			FVOCI securities and loans			Foreign currency translation		Cash flow hedges		Total other components of equity		Equity attributable to shareholders			Non-controlling interests			Total equity
Balance at beginning of period	$	6,723		$	17,728		$	(39	)	$	(73	)	$	71,795		$	(88	)	$	2,055	$	566	$	2,533	$	98,667		$	95		$	98,762
Changes in equity
Issues of share capital and other equity instruments		750			99			-			-			(1	)		-			-		-		-		848			-			848
Common shares purchased for cancellation		-			(509	)		-			-			(4,917	)		-			-		-		-		(5,426	)		-			(5,426	)
Redemption of preferred shares and other equity instruments		(150	)		-			-			-			(5	)		-			-		-		-		(155	)		-			(155	)
Sales of treasury shares and other equity instruments		-			-			552			4,922			-			-			-		-		-		5,474			-			5,474
Purchases of treasury shares and other equity instruments		-			-			(518	)		(5,183	)		-			-			-		-		-		(5,701	)		-			(5,701	)
Share-based compensation awards		-			-			-			-			2			-			-		-		-		2			-			2
Dividends on common shares		-			-			-			-			(6,946	)		-			-		-		-		(6,946	)		-			(6,946	)
Dividends on preferred shares and distributions on other equity instruments		-			-			-			-			(247	)		-			-		-		-		(247	)		(5	)		(252	)
Other		-			-			-			-			(56	)		-			-		-		-		(56	)		-			(56	)
Net income		-			-			-			-			15,794			-			-		-		-		15,794			13			15,807
Total other comprehensive income (loss), net of taxes		-			-			-			-			2,618			(2,269	)		3,633		1,828		3,192		5,810			8			5,818
Balance at end of period	$	7,323		$	17,318		$	(5	)	$	(334	)	$	78,037		$	(2,357	)	$	5,688	$	2,394	$	5,725	$	108,064		$	111		$	108,175



	For the year ended October 31, 2021 (1)
															Other components of equity
(Millions of Canadian dollars)	Preferred shares and other equity instruments			Common shares		Treasury - preferred shares and other equity instruments			Treasury - common shares			Retained earnings			FVOCI securities and loans			Foreign currency translation			Cash flow hedges			Total other components of equity			Equity attributable to shareholders			Non-controlling interests			Total equity
Balance at beginning of period	$	5,948		$	17,628	$	(3	)	$	(129	)	$	59,806		$	(139	)	$	4,632		$	(1,079	)	$	3,414		$	86,664		$	103		$	86,767
Changes in equity
Issues of share capital and other equity instruments		2,250			100		-			-			(5	)		-			-			-			-			2,345			-			2,345
Common shares purchased for cancellation		-			-		-			-			-			-			-			-			-			-			-			-
Redemption of preferred shares and other equity instruments		(1,475	)		-		-			-			-			-			-			-			-			(1,475	)		-			(1,475	)
Sales of treasury shares and other equity instruments		-			-		647			4,116			-			-			-			-			-			4,763			-			4,763
Purchases of treasury shares and other equity instruments		-			-		(683	)		(4,060	)		-			-			-			-			-			(4,743	)		-			(4,743	)
Share-based compensation awards		-			-		-			-			(6	)		-			-			-			-			(6	)		-			(6	)
Dividends on common shares		-			-		-			-			(6,158	)		-			-			-			-			(6,158	)		-			(6,158	)
Dividends on preferred shares and distributions on other equity instruments		-			-		-			-			(257	)		-			-			-			-			(257	)		(3	)		(260	)
Other		-			-		-			-			33			-			-			-			-			33			(10	)		23
Net income		-			-		-			-			16,038			-			-			-			-			16,038			12			16,050
Total other comprehensive income (loss), net of taxes		-			-		-			-			2,344			51			(2,577	)		1,645			(881	)		1,463			(7	)		1,456
Balance at end of period	$	6,723		$	17,728	$	(39	)	$	(73	)	$	71,795		$	(88	)	$	2,055		$	566		$	2,533		$	98,667		$	95		$	98,762