Royal Bank reports net earnings of $1.9 billion in fourth quarter, record year

The Canadian Press

TORONTO - The Royal Bank (TSX:RY) says it had a record annual profit in 2012, including $1.9 billion of net earnings in the fourth quarter.

The quarterly profit amounted to $1.25 per share of net earnings, or $1.27 per share of adjusted diluted earnings.

For the full-year ended Oct. 31, RBC had $7.5 billion of net earnings.

That's up 17 per cent from 2011 and equal to $4.96 per share of net earnings or $5 per share on an adjusted basis.

The adjusted profit beat consensus estimates by a penny per share in both the quarter and the full year.