Royal Bank of Canada Posts Record Annual Income

Royal Bank of Canada (NYSE: RY  ) has posted a record annual net profit for its fiscal 2012, the bank announced today. The bank netted CA$7.54 billion ($7.58 billion) during the period, a 17% improvement over 2011's result. Total revenue advanced by more than CA$2 billion ($2.01 billion) over the same time frame to CA$29.77 billion ($29.94 billion), while total assets grew by 4% to CA$825 billion ($830 billion).

The bank attributed the results to "strong volume growth" in the domestic banking, fixed income trading, and insurance segments of its business.

For the fourth quarter, RBC saw 22% year-over-year improvement in net income to CA$1.91 billion ($1.92 billion), on revenue that was 12% higher at CA$7.52 billion ($7.55 billion).

The bank boosted its quarterly dividend to CA$0.60 ($0.60) per share, three cents higher than the third quarter's payout.

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