Royal Bank of Canada profit rises

Royal Bank of Canada’s quarterly profit rose 22 per cent on a sharp jump in fixed-income trading revenue and steady loan growth, suggesting the long-awaited slowdown in Canadian consumer lending has yet to materialise. The bank, Canada’s largest, earned C$1.9bn (£1.2bn), or C$1.25 a share, in the fourth quarter ended 31 October. That compared with a year-earlier profit of C$1.6bn, or C$1.02 a share. Capital markets income more than tripled to C$410m.