Royal Bank of Canada's 1Q Results Largely in Line With Our Expectations
Royal Bank of Canada posted a solid first quarter of fiscal 2017, with reported return on equity (excluding the impact from the sale of Moneris Solutions) of 16.7%, up 140 basis points from the year-ago quarter and largely in line with our expectations for the full year. The bank’s efforts on efficiency, among other factors, seem to be driving this improvement as reflected in its impressive adjusted efficiency ratio of 42.5%. This constitutes a 120-basis-point year-over-year improvement, net of ...Royal Bank of Canada is a financial services company that provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services. Co. serves personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries. Co. is organized into five segments: Personal and Commercial Banking, which is comprised of Co.'s personal and business banking operations, and its auto financing businesses; Wealth Management, Insurance; Investor and Treasury Services; and Capital Markets. As of Oct 31 2017, Co. had total assets of C$1.21 trillion and total deposits of C$789.64 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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