Royal Bank of Canada reported a record net income of C$6.0 billion for Q3, an 11% increase year-over-year, with adjusted earnings per share rising 11% to C$4.28. The bank's book value per share reached C$96.73, reflecting steady 9% annual growth over the past decade, highlighting strong capital compounding. Growth was driven by a diversified business mix, with Wealth Management up 32% and Capital Markets up 16%, offsetting a slight 1% decline in Personal Banking Canada. The bank's focus on fee-based businesses and technology, including AI initiatives targeting C$700 million to C$1 billion in value by 2027, supports its premium valuation and future growth prospects.
