Royal Bank Of Canada (RY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

by your conference is ready to begin. Good morning, ladies and gentlemen. Welcome to the RBC's 2025 Third Quarter Results Conference Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Asim Imran, Senior Vice President, Investor Relations. Please go ahead, sir. Thank you, and good morning, everyone. Speaking today will be Dave McKay, President and Chief Executive Officer, Catherine Gibson, Chief Financial Officer, and Graham Hepworth, Chief Risk Officer. Also joining us today for your question, Erica Nielsen, Group Head, Personal Banking, Shana Matagauji, Group Head, Commercial Banking, Neil McLaughlin, Group Head, Wealth Management, Derek Nelner, Group Head, Capital Markets, and Jennifer Publicover, Group Head, Insurance. As noted on slide two, our comments may contain forward-looking statements, which involve assumptions and have inherent risks and uncertainties. Actual results could differ materially. I would also remind listeners that the bank assesses its performance on a reported and adjusted basis and considers both to be useful in assessing underlying business performance. To give everyone a chance to ask questions, we ask that you limit your questions and then re-queue. With that, I'll turn it over to Dave. Thank you, Asim. Good morning, everyone, and thank you for joining us. Today we reported record third quarter earnings of $5.4 billion, up 21%, or over $900 million from last year. These outstanding results underpinned a strong return on equity of over 17% for the quarter, or over 16% year-to-date, supported by a robust capital ratio of 13.2%. We are gaining momentum towards meeting our medium-term investor day targets, and are confident in continuing to achieve an ROE of at least 16% in fiscal 2026 and b...