BUSINESS

Royal Bank Of Canada Posts Third-Quarter Loss

08/26/2011 07:22 EDT | Updated 10/26/2011 05:12 EDT
Flickr: oknidius

TORONTO - Royal Bank of Canada (TSX:RY) has posted a $92-million loss for its third quarter, mostly because of a writedown of U.S. retail banking operations that have been sold.

Excluding the discontinued operations, RBC's continuing operations had $1.57 billion of net income — up 13 per cent from last year.

That amounted to $1.04 of diluted earnings per share from Royal's continuing operations.

Analysts had expected Royal to do better, with a Thomson Reuters consensus estimate of $1.08 per share from contining operations.