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Royal Bank of Canada posts record Q3 profit; Scotiabank raises price target to C$312

Company Fundamentals
28 Aug 2026
Andrew Wynn
View Source
Bullish
Royal Bank of Canada posts record Q3 profit; Scotiabank raises price target to C$312

Royal Bank of Canada (RBC) reported a record third-quarter net income of C$6.02 billion, an 11% increase year-over-year, with diluted earnings per share (EPS) rising 13% to C$4.23. The bank's strong performance was driven by a 32% growth in Wealth Management and a 16% increase in Capital Markets income, offsetting a slight decline in Personal Banking-Canada. Scotiabank responded by raising RBC's price target to C$312 from C$311 and maintaining an "Outperform" rating, reflecting confidence in RBC's continued growth and strong capital position. This positive outlook highlights RBC's robust earnings and strategic business segments as key drivers for investors.

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