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Reinsurance

2024 Q3 Financial Supplement

Supplementary Financial Information

Q3 2024

For the period ended July 31, 2024

(UNAUDITED)

For further information, please contact:

Asim Imran

Senior Vice President, Head of Investor Relations

(416) 955-7804

[email protected]

Marco Giurleo

Senior Director, Investor Relations

(437) 239-5374

[email protected]

www.rbc.com/investorrelations

Table of Contents

Page

  • Notes to Users
  • Financial Highlights

Consolidated Results

  • Statements of income
  • Revenue from trading activities
  • Realized gains and losses on investment securities
    7 Non-interest expense

Segment Details

  • Personal & Commercial Banking
    9 Canadian Banking
  1. Wealth Management
  1. Insurance
  2. Capital Markets
  3. Corporate Support

On- and Off-Balance Sheet

  1. Balance sheets (period-end balances)
  2. Selected average balance sheet items
  1. Assets under administration and management
  2. Statements of comprehensive income
  3. Statements of changes in equity

Capital

  1. Flow statement of the movements in regulatory capital
  2. Total capital risk-weighted assets by business segments (all-in basis)
  1. Movement of total capital risk-weighted assets by risk type (all-in basis)

Page

Credit Quality

  1. Loans and acceptances
  2. Gross impaired loans
  1. Provision for credit losses
  1. Allowance for credit losses
  1. Credit quality ratios

Credit Risk Exposure

  1. Credit risk exposure by geography and portfolio
  2. Actual losses vs. estimated losses
  1. Basel Pillar 3 back-testing (Internal ratings based)
  2. Fair value of derivative instruments
  1. Derivatives - Notional amounts
  2. Derivatives - Related credit risk
  3. Calculation of ROE and RORC
  4. Key performance and Non-GAAP measures
  1. Glossary
  1. Sector definitions

(i)

Notes to Users

The Consolidated Financial Statements are prepared in compliance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and International Accounting Standard (IAS) 34, Interim Financial Reporting unless otherwise noted. Unless otherwise stated, monetary amounts are stated in Canadian dollars. This document is not audited and should be read in conjunction with our 2023 Annual Report. Certain comparative amounts have been amended to conform to the current period's presentation.

IFRS 17

Effective November 1, 2023, we adopted IFRS 17 Insurance Contracts (IFRS 17), replacing IFRS 4 Insurance Contracts (IFRS 4). IFRS 17 has been applied retrospectively with comparative periods restated beginning November 1, 2022, where applicable. Adjustments to the carrying amounts of insurance and reinsurance contracts at the transition date of November 1, 2022 were recognized in Retained earnings. The comparative period information for insurance and reinsurance contracts prior to November 1, 2022 is presented in accordance with previous accounting policies.

While IFRS 17 impacts the timing of profit recognition of insurance contracts, it will have no impact on total profit recognized over the lifetime of these contracts. Under IFRS 17, new business profits are deferred and measured as the contractual service margin (CSM) of the insurance contract liabilities and amortized into income as insurance contract services are provided, while losses are recognized into income immediately. Under IFRS 4, gains and losses are recognized in income immediately.

The restated results may not be fully comparable to future periods as we were not managing our asset and liability portfolios under IFRS 17 and the re-balancing of our asset portfolio was not completed until the first quarter of 2024. As a result, analysis of 2023 comparative period results and year over year changes in results should be viewed with this context.

Capital Disclosure Requirements related to Basel III Pillar 3

Capital main features disclosure provides qualitative disclosure and sets out summary information and the full terms and conditions for each of our capital instruments and can be found on our Investor Relations website. Refer to our Basel III Pillar 3 report for all other Pillar 3 capital disclosures.

EDTF Disclosures

The Financial Stability Board's Enhanced Disclosure Task Force (EDTF) issued a report titled "Enhancing the Risk Disclosures of Banks " in October 2012. The following index lists the disclosure related to these recommendations contained in this document.

Type of Risk

Recommendation

Capital adequacy and risk-weighted assets

11

13

16

17

Credit risk

26

28

29

Disclosure

Flow statement of the movements in regulatory capital Risk-weighted assets (RWA) by business segments Movement of risk-weighted assets by risk type Basel Pillar 3 back-testing

Bank's credit risk profile

Reconciliation of the opening and closing balances of impaired loans and impairment allowances during the year Quantification of gross notional exposure for OTC derivatives or exchange-traded derivatives

Page 19 20 20 31

21-31

23,28

32

For a full index of where to find all EDTF related disclosures, refer to our 2023 Annual Report.

-1-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information
3, 4, 6
3, 4, 6

FINANCIAL HIGHLIGHTS

(Millions of Canadian dollars, except otherwise noted)

SELECTED INCOME STATEMENT INFORMATION

Net interest income

Non-interest income

Total revenue

Provision for credit losses (PCL) 1

Insurance policyholder benefits, claims and acquisition expense (PBCAE)

Non-interest expense

Net income

Less: Non-controlling interests (NCI)

Dividends on preferred shares and distributions on other equity instruments

Net income available to common shareholders

Adjusting items impacting net income (before tax)

Amortization of acquisition-related intangibles

HSBC Canada transaction and integration costs

Impairment losses on our interest in an associated company

Management of closing capital volatility related to the acquisition of HSBC Canada

Income taxes for adjusting items impacting net income

Amortization of acquisition-related intangibles

HSBC Canada transaction and integration costs

Impairment losses on our interest in an associated company

Canada Recovery Dividend (CRD) and other tax related adjustments 2

Certain deferred tax adjustments

Management of closing capital volatility related to the acquisition of HSBC Canada

Adjusted net income available to common shareholders 3

PROFITABILITY MEASURES

Earnings per share (EPS) - basic

  • basic adjusted3
  • diluted4
  • diluted adjusted3, 4

Common shares outstanding (000s) 5

  • average (basic)
  • average (diluted)

Retuon common equity (ROE) 4

Adjusted ROE 3, 4

Retuon tangible common equity (ROTCE) 3

Adjusted ROTCE 3

Retuon assets (ROA) 4

Adjusted ROA 3, 4

Retuon RWA 4

Efficiency ratio 4

Adjusted efficiency ratio 3, 4

KEY RATIOS

Diluted EPS growth 4, 6 Adjusted diluted EPS growth Revenue growth 4, 6 Adjusted revenue growth 3, 4, 6 Non-interest expense growth 4, 6 Adjusted non-interest expense growth Operating leverage 4

Adjusted operating leverage 3, 4

PCL on loans as a % of average net loans and acceptances

PCL on performing loans (Stage 1 and 2) as a percentage of Average net loans and acceptances PCL on impaired loans (Stage 3) as a percentage of Average net loans and acceptances

Net interest margin (NIM) (average earning assets, net) 4

NIM (average earning assets, net) excluding Trading Assets, Trading net interest income and Insurance Assets 4 NIM (total average assets) 4

Non-interest income as % of total revenue

IFRS17

IFRS4

IFRS17

IFRS17

IFRS4

2024

2023

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

9 months

9 months

2023

2022

7,327

6,623

6,332

6,542

6,286

6,099

6,202

6,282

5,890

20,282

18,587

25,129

22,717

7,304

7,531

7,153

6,143

6,691

6,346

7,155

6,285

6,242

21,988

20,192

26,335

26,268

14,631

14,154

13,485

12,685

12,977

12,445

13,357

12,567

12,132

42,270

38,779

51,464

48,985

659

920

813

720

616

600

532

381

340

2,392

1,748

2,468

484

116

850

1,783

8,599

8,308

8,324

8,059

7,765

7,400

7,589

7,209

6,386

25,231

22,754

30,813

26,609

4,486

3,950

3,582

3,939

3,860

3,680

3,133

3,882

3,577

12,018

10,673

14,612

15,807

(3)

(2)

(2)

(2)

(2)

(1)

(2)

(6)

(2)

(7)

(5)

(7)

(13)

(106)

(67)

(58)

(67)

(58)

(67)

(44)

(67)

(58)

(231)

(169)

(236)

(247)

4,377

3,881

3,522

3,870

3,800

3,612

3,087

3,809

3,517

11,780

10,499

14,369

15,547

154

106

80

92

81

82

86

68

62

340

249

341

256

160

358

265

203

110

56

11

-

-

783

177

380

-

-

-

-

242

-

-

-

-

-

-

-

242

-

-

(155)

286

-

-

-

-

-

-

131

-

-

-

(38)

(28)

(21)

(24)

(20)

(16)

(15)

(16)

(16)

(87)

(51)

(75)

(65)

(35)

(76)

(47)

(36)

(26)

(13)

(3)

-

-

(158)

(42)

(78)

-

-

-

-

(65)

-

-

-

-

-

-

-

(65)

-

-

-

-

-

-

-

1,050

-

-

-

1,050

1,050

-

-

-

-

(578)

-

-

-

-

-

-

-

(578)

-

-

43

(79)

-

-

-

-

-

-

(36)

-

-

-

4,618

4,129

4,006

3,704

3,945

3,721

4,216

3,861

3,563

12,753

11,882

15,586

15,738

$3.09

$2.75

$2.50

$2.77

$2.73

$2.60

$2.23

$2.75

$2.52

$8.35

$7.56

$10.33

$11.08

$3.26

$2.92

$2.85

$2.65

$2.83

$2.68

$3.05

$2.78

$2.55

$9.04

$8.56

$11.21

$11.21

$3.09

$2.74

$2.50

$2.76

$2.73

$2.60

$2.23

$2.74

$2.51

$8.34

$7.55

$10.32

$11.06

$3.26

$2.92

$2.85

$2.65

$2.83

$2.68

$3.04

$2.78

$2.55

$9.03

$8.55

$11.19

$11.19

1,414,194

1,412,651

1,406,324

1,399,337

1,393,515

1,388,388

1,382,754

1,386,925

1,396,381

1,411,044

1,388,217

1,391,020

1,403,654

1,416,149

1,414,166

1,407,641

1,400,465

1,394,939

1,390,149

1,384,536

1,388,548

1,398,667

1,412,644

1,389,857

1,392,529

1,406,034

15.5%

14.5%

13.1%

14.9%

14.9%

14.9%

12.6%

15.6%

14.6%

14.4%

14.1%

14.3%

16.4%

16.4%

15.5%

14.9%

14.2%

15.4%

15.3%

17.2%

15.8%

14.8%

15.6%

16.0%

15.5%

16.6%

19.9%

17.5%

15.3%

17.5%

17.5%

17.7%

15.0%

18.1%

16.8%

17.5%

16.8%

17.0%

19.0%

20.4%

18.2%

17.1%

16.5%

17.9%

17.9%

20.1%

18.1%

16.8%

18.6%

18.6%

18.1%

19.0%

0.85%

0.77%

0.68%

0.77%

0.77%

0.79%

0.60%

0.77%

0.76%

0.76%

0.72%

0.73%

0.84%

0.89%

0.81%

0.77%

0.73%

0.80%

0.82%

0.81%

0.78%

0.77%

0.83%

0.81%

0.79%

0.85%

2.70%

2.46%

2.41%

2.62%

2.61%

2.54%

2.02%

2.52%

2.41%

2.53%

2.39%

2.44%

2.68%

58.8%

58.7%

61.7%

63.5%

59.8%

59.5%

56.8%

57.4%

52.6%

59.7%

58.7%

59.9%

54.3%

56.6%

56.0%

57.9%

60.1%

58.4%

58.4%

56.1%

57.4%

56.1%

56.9%

57.6%

58.2%

55.8%

13.2%

5.4%

12.1%

0.7%

8.8%

(12.2)%

(21.5)%

2.2%

(15.5)%

10.5%

(9.1)%

(6.7)%

0.0%

15.2%

9.0%

(6.3)%

(4.7)%

11.0%

(10.4)%

5.9%

2.6%

(15.0)%

5.6%

1.7%

0.0%

0.0%

12.7%

13.7%

1.0%

0.9%

7.0%

10.9%

2.2%

1.5%

(4.9)%

9.0%

6.5%

5.1%

(1.4)%

12.7%

12.5%

3.1%

3.8%

15.0%

9.2%

10.7%

9.8%

(1.5)%

9.3%

11.6%

9.5%

3.1%

10.7%

12.3%

9.7%

11.8%

21.6%

15.0%

15.3%

9.5%

(0.5)%

10.9%

17.3%

15.8%

2.6%

9.4%

8.0%

6.5%

8.7%

19.8%

14.0%

15.0%

9.5%

(0.5)%

8.0%

16.2%

14.2%

2.6%

2.0%

1.4%

(8.7)%

(10.9)%

(14.6)%

(4.1)%

(13.1)%

(8.0)%

(4.4)%

(1.9)%

(10.8)%

(10.7)%

(4.0)%

3.3%

4.5%

(3.4)%

(4.9)%

(4.8)%

(4.8)%

(4.3)%

0.3%

(1.0)%

1.3%

(4.6)%

(4.7)%

0.5%

0.27%

0.41%

0.37%

0.34%

0.29%

0.30%

0.25%

0.18%

0.17%

0.35%

0.28%

0.29%

0.06%

0.01%

0.11%

0.06%

0.09%

0.06%

0.09%

0.08%

0.06%

0.09%

0.06%

0.08%

0.08%

(0.04)%

0.26%

0.30%

0.31%

0.25%

0.23%

0.21%

0.17%

0.12%

0.08%

0.29%

0.20%

0.21%

0.10%

1.58%

1.50%

1.41%

1.51%

1.50%

1.53%

1.47%

1.56%

1.52%

1.50%

1.50%

1.50%

1.48%

2.11%

2.10%

2.07%

2.14%

2.02%

2.03%

2.10%

2.11%

2.04%

2.09%

2.05%

2.08%

2.00%

1.38%

1.28%

1.20%

1.27%

1.25%

1.31%

1.18%

1.25%

1.25%

1.29%

1.25%

1.25%

1.20%

49.9%

53.2%

53.0%

48.4%

51.6%

51.0%

53.6%

50.0%

51.5%

52.0%

52.1%

51.2%

53.6%
  • PCL relates primarily to loans, acceptances and commitments and also to all other financial assets except for those classified or designated as FVTPL and equity securities designated as FVOCI.
  • Reflects the impact of the CRD and the 1.5% increase in the Canadian corporate tax rate applicable to fiscal 2022, net of deferred tax adjustments, which were announced in the Government of Canada's 2022 budget and enacted in Q1 2023.
  • This is a non-GAAP financial measure or ratio. These do not have standardized meanings under GAAP and might not be comparable to similar financial measures or ratios disclosed by other issuers. For further information, refer to the non-GAAP financial measures and non-GAAP ratios section on page 35
    4 See 'Glossary' beginning on page 35 for explanation of composition of this measure. 5 Average common shares outstanding includes the impact of treasury shares held.
    6 Growth rates are calculated based on results in the same period a year ago.

-2-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

FINANCIAL HIGHLIGHTS continued

IFRS17

IFRS4

IFRS17

IFRS17

IFRS4

2024

2023

(Millions of Canadian dollars, except otherwise noted)

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

9 months

9 months

2023

2022

CAPITAL MEASURES - CONSOLIDATED

Common Equity Tier 1 (CET1) capital ratio 1

13.0%

12.8%

14.9%

14.5%

14.1%

13.7%

12.7%

12.6%

13.1%

13.0%

14.1%

14.5%

12.6%

Tier 1 capital ratio 1

14.5%

14.1%

16.3%

15.7%

15.4%

14.9%

13.9%

13.8%

14.3%

14.5%

15.4%

15.7%

13.8%

Total capital ratio 1

16.3%

16.1%

18.1%

17.6%

17.3%

16.8%

15.7%

15.4%

15.9%

16.3%

17.3%

17.6%

15.4%

Total RWA ($ billions) 1

661.2

653.7

590.3

596.2

585.9

593.5

614.3

609.9

589.0

661.2

585.9

596.2

609.9

Leverage ratio - all-in basis 1

4.2%

4.2%

4.4%

4.3%

4.2%

4.2%

4.4%

4.4%

4.6%

4.2%

4.2%

4.3%

4.4%

Leverage ratio exposure - all-in basis 1

2,271,007

2,219,019

2,173,419

2,179,590

2,142,032

2,116,380

1,921,310

1,898,179

1,839,845

2,271,007

2,142,032

2,179,590

1,898,179

CALCULATION OF ROTCE

Net income available to common shareholders excluding the after-tax effect of amortization of acquisition-related intangibles 2

4,493

3,959

3,581

3,938

3,861

3,678

3,158

3,861

3,563

12,033

10,697

14,635

15,738

Average common equity 1

112,100

108,650

107,100

103,250

101,450

99,450

97,300

97,150

95,750

109,300

99,400

100,400

94,700

Less: Goodwill and Intangibles (net of tax) 1

22,200

16,600

13,950

14,150

14,100

14,200

14,050

12,500

11,600

17,500

14,100

14,100

11,900

Tangible common equity 2

89,900

92,050

93,150

89,100

87,350

85,250

83,250

84,650

84,150

91,800

85,300

86,300

82,800

ROTCE 2

19.9%

17.5%

15.3%

17.5%

17.5%

17.7%

15.0%

18.1%

16.8%

17.5%

16.8%

17.0%

19.0%

EFFECTIVE TAX RATE

Income Taxes (teb1)

Income Taxes

887

976

766

(33)

736

765

2,103

979

979

2,629

3,604

3,571

4,302

Taxable equivalent basis (teb) adjustment 1, 2

231

(4)

54

117

113

213

116

142

143

281

442

559

572

Income Taxes (teb1)

1,118

972

820

84

849

978

2,219

1,121

1,122

2,910

4,046

4,130

4,874

Net Income before taxes (teb1)

Net Income before taxes

5,373

4,926

4,348

3,906

4,596

4,445

5,236

4,861

4,556

14,647

14,277

18,183

20,109

Taxable equivalent basis (teb) adjustment 1, 2

231

(4)

54

117

113

213

116

142

143

281

442

559

572

Net Income before taxes (teb1)

5,604

4,922

4,402

4,023

4,709

4,658

5,352

5,003

4,699

14,928

14,719

18,742

20,681

Effective tax rate

16.5%

19.8%

17.6%

(0.8)%

16.0%

17.2%

40.2%

20.1%

21.5%

17.9%

25.2%

19.6%

21.4%

Adjusted effective tax rate 2

16.9%

19.8%

18.3%

15.1%

16.3%

17.3%

20.1%

20.2%

21.5%

18.3%

18.0%

17.3%

21.4%

Effective tax rate (Taxable equivalent basis (teb)1) 2

20.0%

19.7%

18.6%

2.1%

18.0%

21.0%

41.5%

22.4%

23.9%

19.5%

27.5%

22.0%

23.6%

Adjusted effective tax rate (Taxable equivalent basis (teb)1) 2

20.1%

19.7%

19.2%

17.3%

18.3%

21.0%

21.8%

22.4%

23.9%

19.7%

20.4%

19.7%

23.6%

ADDITIONAL SHARE INFORMATION

Common shares outstanding (000s) - end of period 3

1,413,666

1,414,304

1,408,257

1,400,511

1,394,997

1,389,730

1,382,818

1,382,911

1,390,629

1,413,666

1,394,997

1,400,511

1,382,911

Treasury shares and other equity instruments held

- preferred shares and other equity instruments (000s)

(39)

15

(34)

(9)

6

(6)

8

(12)

11

(39)

6

(9)

(12)

- common shares (000s)

(1,387)

(546)

(651)

(1,862)

(1,231)

(969)

(3,042)

(2,680)

(2,155)

(1,387)

(1,231)

(1,862)

(2,680)

Stock options and awards outstanding (000s)

8,049

8,731

9,059

7,793

7,922

8,096

8,354

7,535

8,209

8,049

7,922

7,793

7,535

Stock options and awards exercisable (000s)

3,626

4,309

4,549

3,830

3,891

4,066

4,306

3,502

3,576

3,626

3,891

3,830

3,502

Dividends declared per common share

$1.42

$1.38

$1.38

$1.35

$1.35

$1.32

$1.32

$1.28

$1.28

$4.18

$3.99

$5.34

$4.96

Dividend yield 1

3.9%

4.1%

4.5%

4.5%

4.2%

4.0%

4.0%

4.0%

3.9%

4.2%

4.1%

4.3%

3.7%

Dividend payout ratio 1

46%

50%

55%

49%

50%

51%

59%

47%

51%

50%

53%

52%

45%

Common dividends

2,009

1,953

1,944

1,893

1,885

1,836

1,829

1,774

1,784

5,906

5,550

7,443

6,946

Dividends on preferred shares and distributions on other equity instruments

106

67

58

67

58

67

44

67

58

231

169

236

247

Book value per share 1

$81.28

$79.24

$76.95

$76.92

$73.54

$73.06

$70.81

$72.85

$69.44

$81.28

$73.54

$76.92

$72.85

Common share price (RY on TSX)

- High

$155.22

$140.77

$135.63

$130.50

$135.35

$140.18

$136.30

$129.95

$133.55

$155.22

$140.18

$140.18

$149.60

- Low

$132.88

$127.60

$109.89

$107.92

$120.10

$125.32

$124.65

$116.75

$118.24

$109.89

$120.10

$107.92

$116.75

- Close, end of period

$154.28

$133.19

$131.21

$110.76

$130.73

$134.51

$136.16

$126.05

$124.86

$154.28

$130.73

$110.76

$126.05

Market capitalization (TSX) 1

218,100

188,371

184,777

155,121

182,368

186,933

188,284

174,316

173,634

218,100

182,368

155,121

174,316

Market price to book value 1

1.90

1.68

1.71

1.44

1.78

1.84

1.92

1.73

1.80

1.90

1.78

1.44

1.73
  • See 'Glossary' beginning on page 35 for explanation of composition.
  • This is a non-GAAP financial measure or ratio. These do not have standardized meanings under GAAP and might not be comparable to similar financial measures or ratios disclosed by other issuers. For further information, refer to the non-GAAP financial measures and non-GAAP ratios section on page 35.
    3 Common shares outstanding has been adjusted to include the impact of treasury shares.

-3-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

FINANCIAL HIGHLIGHTS continued

IFRS17

IFRS4

IFRS17

IFRS17

IFRS4

2024

2023

(Millions of Canadian dollars, except otherwise noted)

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

9 months

9 months

2023

2022

SELECTED BALANCE SHEET INFORMATION

Average loans and acceptances, net

968,500

908,000

870,900

867,500

854,900

850,200

844,900

829,600

802,000

915,800

850,000

854,400

789,300

Total Assets

2,076,107

2,031,050

1,974,405

2,006,531

1,959,063

1,942,223

1,934,580

1,917,219

1,842,092

2,076,107

1,959,063

2,006,531

1,917,219

Average assets

2,110,500

2,098,200

2,092,200

2,039,200

1,990,100

1,903,200

2,081,900

1,991,500

1,876,300

2,100,300

1,991,700

2,004,500

1,886,900

Average assets excluding trading assets 1 and insurance assets 1

1,294,800

1,201,900

1,149,900

1,147,300

1,134,300

1,134,900

1,291,100

1,266,600

1,221,200

1,215,600

1,134,900

1,138,000

1,216,500

Average earning assets, net 1

1,843,400

1,801,400

1,787,700

1,722,200

1,665,600

1,640,100

1,674,500

1,600,100

1,534,600

1,810,900

1,660,500

1,676,000

1,531,800

Deposits

1,361,265

1,327,603

1,241,168

1,231,687

1,215,671

1,210,053

1,203,842

1,208,814

1,178,604

1,361,265

1,215,671

1,231,687

1,208,814

Common equity 1

114,899

112,065

108,360

107,734

102,583

101,528

97,923

100,746

96,570

114,899

102,583

107,734

100,746

Average common equity 1

112,100

108,650

107,100

103,250

101,450

99,450

97,300

97,150

95,750

109,300

99,400

100,400

94,700

OTHER INFORMATION

Number of employees (full-time equivalent)

Canada

70,475

69,576

65,147

66,172

67,959

67,178

65,948

64,922

64,210

70,475

67,959

66,172

64,922

U.S.

16,226

15,689

15,821

15,837

16,359

15,640

15,285

15,059

15,105

16,226

16,359

15,837

15,059

Other

9,464

9,215

9,198

9,389

9,435

11,580

11,429

11,446

9,226

9,464

9,435

9,389

11,446

Total

96,165

94,480

90,166

91,398

93,753

94,398

92,662

91,427

88,541

96,165

93,753

91,398

91,427

Number of banking branches

Canada

1,241

1,245

1,145

1,143

1,149

1,150

1,157

1,162

1,173

1,241

1,149

1,143

1,162

U.S.

64

64

64

65

69

69

69

70

71

64

69

65

70

Other

39

39

39

39

39

39

39

39

39

39

39

39

39

Total

1,344

1,348

1,248

1,247

1,257

1,258

1,265

1,271

1,283

1,344

1,257

1,247

1,271

Number of automated teller machines (ATMs)

4,426

4,447

4,341

4,341

4,353

4,357

4,363

4,368

4,364

4,426

4,353

4,341

4,368

Active digital (online and mobile) users (000's) 2

9,718

9,681

9,192

9,016

8,837

8,774

8,579

8,405

8,277

9,718

8,837

9,016

8,405

Active mobile users (000's) 2

7,609

7,415

7,038

6,865

6,639

6,429

6,287

6,129

5,962

7,609

6,639

6,865

6,129

MARKET RISK MEASURES - Interest Rate Risk in the Banking Book (IRRBB) Sensitivities

Before-tax impact of 100 bps increase in rates on:

Net interest income risk 3

325

325

535

651

580

824

663

781

1,091

325

580

651

781

Economic value of equity

(1,822)

(2,149)

(1,649)

(1,552)

(1,999)

(1,726)

(2,069)

(1,900)

(1,411)

(1,822)

(1,999)

(1,552)

(1,900)

Before-tax impact of 100 bps decrease in rates on:

Net interest income risk 3

(425)

(458)

(622)

(751)

(648)

(894)

(776)

(839)

(1,189)

(425)

(648)

(751)

(839)

Economic value of equity

1,399

1,803

1,309

1,353

1,789

1,507

1,808

1,709

914

1,399

1,789

1,353

1,709
  • See 'Glossary' beginning on page 35 for explanation of composition.
  • This figure represents the 90-Day Active customers in Canadian Banking only.
  • Amounts represent the 12-month Net interest income exposure to an instantaneous and sustained shift in interest rates.

-4-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

STATEMENTS OF INCOME

IFRS17

IFRS4

IFRS17

IFRS17

IFRS4

2024

2023

(Millions of Canadian dollars)

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

9 months

9 months

2023

2022

Net interest income

Interest and dividend income

27,090

25,754

25,609

24,502

22,834

20,318

19,337

14,898

10,737

78,453

62,489

86,991

40,771

Interest expense

19,763

19,131

19,277

17,960

16,548

14,219

13,135

8,616

4,847

58,171

43,902

61,862

18,054

Total

7,327

6,623

6,332

6,542

6,286

6,099

6,202

6,282

5,890

20,282

18,587

25,129

22,717

Non-interest income

Accounts

418

399

399

396

377

363

362

365

351

1,216

1,102

1,498

1,406

Other payment services

169

158

155

152

152

148

149

147

148

482

449

601

570

Service charges

587

557

554

548

529

511

511

512

499

1,698

1,551

2,099

1,976

Insurance service result 1

214

203

187

137

149

225

192

604

566

703

Insurance investment result 1

28

59

141

64

151

14

(73)

228

92

156

Insurance premiums, investment and fee income

644

1,233

3,510

Trading revenue

507

633

804

408

485

430

1,069

451

(128)

1,944

1,984

2,392

926

Investment management and custodial fees

2,382

2,257

2,185

2,106

2,099

2,083

2,056

1,900

1,857

6,824

6,238

8,344

7,610

Mutual fund revenue

1,151

1,067

1,030

1,014

1,034

1,000

1,015

1,010

1,028

3,248

3,049

4,063

4,289

Securities brokerage commissions

413

431

388

363

362

377

361

349

344

1,232

1,100

1,463

1,481

Underwriting and other advisory fees

676

734

606

563

472

458

512

481

369

2,016

1,442

2,005

2,058

Foreign exchange revenue, other than trading

292

287

262

248

289

322

433

266

250

841

1,044

1,292

1,038

Card service revenue

324

291

326

302

334

279

325

310

314

941

938

1,240

1,203

Credit fees

405

434

395

411

342

357

379

337

301

1,234

1,078

1,489

1,512

Net gains (losses) on investment securities

28

59

70

2

27

111

53

(23)

28

157

191

193

43

Income (loss) from joint ventures and associates

(57)

18

12

(223)

(37)

12

29

24

33

(27)

4

(219)

110

Other

354

501

193

200

455

167

293

24

114

1,048

915

1,115

512

Total

7,304

7,531

7,153

6,143

6,691

6,346

7,155

6,285

6,242

21,988

20,192

26,335

26,268

Total revenue

14,631

14,154

13,485

12,685

12,977

12,445

13,357

12,567

12,132

42,270

38,779

51,464

48,985

Provision for credit losses

659

920

813

720

616

600

532

381

340

2,392

1,748

2,468

484

Insurance policyholder benefits, claims and acquisition expense

116

850

1,783

Non-interest expense

8,599

8,308

8,324

8,059

7,765

7,400

7,589

7,209

6,386

25,231

22,754

30,813

26,609

Income before income taxes

5,373

4,926

4,348

3,906

4,596

4,445

5,236

4,861

4,556

14,647

14,277

18,183

20,109

Income taxes

887

976

766

(33)

736

765

2,103

979

979

2,629

3,604

3,571

4,302

Net income

4,486

3,950

3,582

3,939

3,860

3,680

3,133

3,882

3,577

12,018

10,673

14,612

15,807

Net income attributable to:

Shareholders

4,483

3,948

3,580

3,937

3,858

3,679

3,131

3,876

3,575

12,011

10,668

14,605

15,794

Non-controlling interests (NCI)

3

2

2

2

2

1

2

6

2

7

5

7

13

Net income

4,486

3,950

3,582

3,939

3,860

3,680

3,133

3,882

3,577

12,018

10,673

14,612

15,807

Net income

4,486

3,950

3,582

3,939

3,860

3,680

3,133

3,882

3,577

12,018

10,673

14,612

15,807

Non-controlling interests (NCI)

(3)

(2)

(2)

(2)

(2)

(1)

(2)

(6)

(2)

(7)

(5)

(7)

(13)

Dividends on preferred shares and distributions on other equity instruments

(106)

(67)

(58)

(67)

(58)

(67)

(44)

(67)

(58)

(231)

(169)

(236)

(247)

Net income available to common shareholders

4,377

3,881

3,522

3,870

3,800

3,612

3,087

3,809

3,517

11,780

10,499

14,369

15,547
  • See 'Glossary' beginning on page 35 for explanation of composition of this measure.

-5-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

REVENUE FROM TRADING ACTIVITIES

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

2024

2023

2023

2022

(Millions of Canadian dollars)

9 months

9 months

Total trading revenue 1

Net interest income 2

475

403

344

345

510

469

186

403

465

1,222

1,165

1,510

2,024

Non-interest income 3

507

633

804

408

485

430

1,069

451

(128)

1,944

1,984

2,392

926

Total

982

1,036

1,148

753

995

899

1,255

854

337

3,166

3,149

3,902

2,950

Trading revenue by product

Interest rate and credit 3

561

595

739

524

652

602

750

430

(71)

1,895

2,004

2,528

1,147

Equities

210

238

159

97

171

81

255

179

229

607

507

604

951

Foreign exchange and commodities

211

203

250

132

172

216

250

245

179

664

638

770

852

Total

982

1,036

1,148

753

995

899

1,255

854

337

3,166

3,149

3,902

2,950

Trading revenue (teb1) by product

Interest rate and credit 3

561

595

739

524

652

602

750

430

(71)

1,895

2,004

2,528

1,147

Equities

199

232

206

207

275

182

362

305

359

637

819

1,026

1,467

Foreign exchange and commodities

211

203

250

132

172

216

250

245

179

664

638

770

852

Total (teb1)

971

1,030

1,195

863

1,099

1,000

1,362

980

467

3,196

3,461

4,324

3,466

Trading revenue (teb1) by product - Capital Markets

Interest rate and credit 3

494

539

667

457

616

536

679

385

(130)

1,700

1,831

2,288

962

Equities

208

226

232

170

271

190

382

308

347

666

843

1,013

1,451

Foreign exchange and commodities

185

182

230

134

150

196

232

226

160

597

578

712

782

Total (teb1)

887

947

1,129

761

1,037

922

1,293

919

377

2,963

3,252

4,013

3,195
  • See 'Glossary' beginning on page 35 for explanation of composition.
  • Reflects net interest income arising from trading-related positions, including assets and liabilities that are classified or designated at FVTPL.
    3 Includes loan underwriting commitments.

REALIZED GAINS AND LOSSES ON INVESTMENT SECURITIES

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

2024

2023

2023

2022

(Millions of Canadian dollars)

9 months

9 months

Realized gains

35

70

70

8

42

112

60

39

38

175

214

222

118

Realized losses

(7)

(11)

-

(6)

(15)

(1)

(7)

(62)

(10)

(18)

(23)

(29)

(75)

Net gains (losses) on investment securities

28

59

70

2

27

111

53

(23)

28

157

191

193

43

-6-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

NON-INTEREST EXPENSE

IFRS17

IFRS4

IFRS17

IFRS17

IFRS4

2024

2023

(Millions of Canadian dollars)

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

9 months

9 months

2023

2022

Human resources

Salaries

2,310

2,145

2,078

2,239

2,160

2,069

2,010

1,935

1,820

6,533

6,239

8,478

7,251

Variable compensation

2,246

2,161

2,083

1,955

1,816

1,811

2,026

1,959

1,473

6,490

5,653

7,608

7,127

Benefits and retention compensation

615

606

605

489

545

561

544

486

497

1,826

1,650

2,139

2,015

Share-based compensation 1

235

179

397

(17)

243

132

270

3

68

811

645

628

135

Total Human resources

5,406

5,091

5,163

4,666

4,764

4,573

4,850

4,383

3,858

15,660

14,187

18,853

16,528

Equipment

Depreciation

89

89

91

92

92

88

90

89

89

269

270

362

353

Computer rental and maintenance

536

523

523

516

517

496

475

477

421

1,582

1,488

2,004

1,731

Office equipment rental and maintenance

4

3

5

4

2

5

4

5

4

12

11

15

15

Total Equipment

629

615

619

612

611

589

569

571

514

1,863

1,769

2,381

2,099

Occupancy

Premises rent

20

22

13

17

14

17

23

27

18

55

54

71

78

Premises repairs and maintenance

139

132

129

117

124

128

122

109

106

400

374

491

435

Depreciation

244

249

229

231

232

225

225

235

225

722

682

913

912

Property taxes

40

38

36

36

39

35

34

30

32

114

108

144

129

Total Occupancy

443

441

407

401

409

405

404

401

381

1,291

1,218

1,619

1,554

Communications

Telecommunications

39

38

39

38

40

38

36

39

37

116

114

152

151

Postage and courier

51

67

56

46

45

50

51

44

44

174

146

192

183

Marketing and public relations

227

228

204

238

213

206

169

211

178

659

588

826

667

Stationery and printing

25

25

22

22

23

24

22

25

18

72

69

91

81

Total Communications

342

358

321

344

321

318

278

319

277

1,021

917

1,261

1,082

Professional fees

547

697

624

692

591

506

382

472

373

1,868

1,479

2,171

1,511

Amortization of other intangibles

Computer software

272

267

272

274

288

301

276

286

280

811

865

1,139

1,113

Other

154

106

80

83

81

82

86

68

62

340

249

332

256

Total Amortization of other intangibles

426

373

352

357

369

383

362

354

342

1,151

1,114

1,471

1,369

Other

Business and capital taxes

23

25

17

58

23

25

31

64

41

65

79

137

162

Travel and relocation

42

35

32

33

41

43

41

40

32

109

125

158

106

Employee training

13

15

10

13

14

14

15

15

13

38

43

56

50

Donations

44

41

35

45

46

35

33

37

43

120

114

159

140

Outsourced item processing

31

34

29

27

27

31

27

26

28

94

85

112

108

Impairment of other intangibles

4

12

2

71

14

12

11

11

1

18

37

108

18

Other

649

571

713

740

535

466

586

516

483

1,933

1,587

2,327

1,882

Total Other

806

733

838

987

700

626

744

709

641

2,377

2,070

3,057

2,466

Total non-interest expense

8,599

8,308

8,324

8,059

7,765

7,400

7,589

7,209

6,386

25,231

22,754

30,813

26,609
  • Share-basedcompensation includes the cost of stock options, performance deferred shares, deferred compensation plans and the impact of related economic hedges.

-7-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

PERSONAL & COMMERCIAL BANKING

Q3/24

Q2/24

Q1/24

Q4/23

Q3/23

Q2/23

Q1/23

Q4/22

Q3/22

2024

2023

2023

2022

(Millions of Canadian dollars, except percentage amounts)

9 months

9 months

Income Statement

Net interest income

5,052

4,400

4,216

4,188

4,062

3,817

4,007

3,901

3,655

13,668

11,886

16,074

14,019

Non-interest income

1,673

1,590

1,578

1,530

1,501

1,481

1,534

1,518

1,527

4,841

4,516

6,046

6,124

Total revenue

6,725

5,990

5,794

5,718

5,563

5,298

5,541

5,419

5,182

18,509

16,402

22,120

20,143

PCL on performing assets 1

68

245

150

103

5

122

141

56

141

463

268

371

(283)

PCL on impaired assets 1

539

509

484

348

300

300

260

230

183

1,532

860

1,208

746

Total PCL

607

754

634

451

305

422

401

286

324

1,995

1,128

1,579

463

Non-interest expense

2,715

2,428

2,339

2,410

2,319

2,257

2,229

2,270

2,130

7,482

6,805

9,215

8,437

Income taxes

913

757

760

766

805

704

785

724

705

2,430

2,294

3,060

2,873

Net income

2,490

2,051

2,061

2,091

2,134

1,915

2,126

2,139

2,023

6,602

6,175

8,266

8,370

Total revenue by business

Personal Banking

4,470

4,074

3,903

3,869

3,781

3,607

3,761

3,639

3,556

12,447

11,149

15,018

13,957

Business Banking

1,975

1,630

1,613

1,565

1,511

1,433

1,523

1,540

1,418

5,218

4,467

6,032

5,325

Canadian Banking

6,445

5,704

5,516

5,434

5,292

5,040

5,284

5,179

4,974

17,665

15,616

21,050

19,282

Caribbean & U.S. Banking

280

286

278

284

271

258

257

240

208

844

786

1,070

861

Total

6,725

5,990

5,794

5,718

5,563

5,298

5,541

5,419

5,182

18,509

16,402

22,120

20,143

Financial ratios

ROE 2

22.0%

23.2%

26.0%

26.7%

28.1%

26.5%

29.8%

30.5%

29.2%

23.5%

28.1%

27.8%

30.9%

NIM (average earning assets, net) 2

2.89%

2.82%

2.77%

2.77%

2.74%

2.70%

2.76%

2.72%

2.61%

2.83%

2.73%

2.74%

2.55%

Efficiency ratio 2

40.4%

40.5%

40.4%

42.1%

41.7%

42.6%

40.2%

41.9%

41.1%

40.4%

41.5%

41.7%

41.9%

Operating leverage 2

3.8%

5.5%

(0.3)%

(0.7)%

(1.5)%

(0.2)%

5.2%

8.9%

4.8%

2.9%

1.1%

0.6%

4.0%

Average balances 2

Total assets

732,200

670,700

637,800

631,500

619,700

610,000

604,700

597,600

582,700

680,300

611,500

616,600

575,900

Earning assets, net 2

696,100

634,900

605,500

599,400

588,400

579,800

575,900

569,000

555,400

645,600

581,400

585,900

548,900

Loans and acceptances, net

698,800

643,500

614,100

607,200

596,000

586,700

581,800

574,300

560,300

652,200

588,200

593,000

553,300

Deposits

731,200

664,800

630,600

621,000

601,100

588,000

579,800

570,200

555,300

675,600

589,600

597,500

552,100

Attributed capital 2

44,150

35,600

31,200

30,700

29,900

29,300

28,100

27,550

27,250

37,000

29,100

29,500

26,800

Risk capital 2

30,600

27,550

26,000

25,450

24,850

24,650

23,550

22,950

22,850

28,050

24,350

24,650

22,350

Credit quality

Gross impaired loans (GIL) / Related loans and acceptances 2, 3

0.52%

0.42%

0.39%

0.31%

0.28%

0.28%

0.26%

0.23%

0.24%

0.52%

0.28%

0.31%

0.23%

PCL on performing loans (Stage 1 and 2) / Average net loans and acceptance

0.04%

0.16%

0.10%

0.07%

0.00%

0.09%

0.09%

0.04%

0.10%

0.10%

0.06%

0.06%

(0.05)%

PCL on impaired loans (Stage 3) / Average net loans and acceptances

0.31%

0.32%

0.31%

0.23%

0.20%

0.21%

0.18%

0.16%

0.13%

0.31%

0.20%

0.21%

0.14%

Net write-offs2 / Average net loans and acceptances 3

0.20%

0.23%

0.21%

0.18%

0.17%

0.16%

0.14%

0.19%

0.12%

0.21%

0.16%

0.17%

0.13%

Business information

Assets under administration (AUA) 2, 4

429,200

405,400

362,700

336,800

357,500

355,300

353,400

340,300

350,200

429,200

357,500

336,800

340,300

Assets under management (AUM) 2

6,300

6,400

6,100

5,900

5,700

5,800

5,600

5,600

5,400

6,300

5,700

5,900

5,600

Number of employees (full-time equivalent)

40,863

40,622

37,373

38,027

39,218

39,498

39,036

38,450

37,648

40,863

39,218

38,027

38,450

After-tax effect of amortization of acquisition-related intangibles

58

22

4

5

4

5

6

7

5

84

15

20

24
  • PCL on performing assets represents Stage 1 and 2 PCL on all performing assets, except those classified or designated as FVTPL and equity securities designated as FVOCI. PCL on impaired assets represents Stage 3 PCL. Stage 3 PCL is comprised of lifetime credit losses of all credit-impaired financial assets, except those classified or designated as FVTPL and equity securities designated as FVOCI.
  • See 'Glossary' beginning on page 35 for explanation of composition of this measure.
    3 Certain amounts have been revised from those previously presented.
    4 AUA represents period-end spot balances and includes securitized residential mortgages and credit card loans as at July 31, 2024 of $15 billion and $6 billion, respectively (April 30, 2024 of $16 billion and $6 billion; July 31, 2023 of $13 billion and $7 billion).

-8-

ROYAL BANK OF CANADA

3rd Quarter 2024 - Supplementary Financial Information

Disclaimer

RBC - Royal Bank of Canada published this content on 28 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on August 28, 2024 at 10:04:04 UTC.

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