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2024 Q4 Financial Supplement

U.S. Markets via PUBT

Supplementary Financial Information

Q4 2024

For the period ended October 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
Non-interestexpense

Segment Details

Personal Banking
Commercial Banking
Wealth Management

Insurance
Capital Markets
Corporate Support

On- and Off-Balance Sheet

Balance sheets (period-end balances)
Selected average balance sheet items

Assets under administration and management
Statements of comprehensive income
Statements of changes in equity

Capital

Flow statement of the movements in regulatory capital
Total capital risk-weighted assets by business segments (all-in basis)

Movement of total capital risk-weighted assets by risk type (all-in basis)

Page

Credit Quality

Loans and acceptances
Gross impaired loans

Provision for credit losses

Allowance for credit losses

Credit quality ratios

Credit Risk Exposure

Credit risk exposure by geography and portfolio
Actual losses vs. estimated losses

Basel Pillar 3 back-testing (Internal ratings based)
Fair value of derivative instruments

Derivatives - Notional amounts
Derivatives - Related credit risk
Calculation of ROE and RORC
Key performance and Non-GAAP measures

Glossary

Sector definitions

Appendix

38 Canadian Banking

(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 2024 Annual Report. Certain comparative amounts have been amended to conform to the current period's presentation.

Commencing the fourth quarter of 2024, the Personal & Commercial Banking segment became two standalone business segments: Personal Banking and Commercial Banking. With this change, Direct Investing is now reported under the Wealth Management segment, in the Canadian Wealth Management line of business.

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	Disclosure	Page
Capital adequacy and risk-weighted assets	11	Flow statement of the movements in regulatory capital	19
	13	Risk-weighted assets (RWA) by business segments	20
	16	Movement of risk-weighted assets by risk type	20
	17	Basel Pillar 3 back-testing	31
Credit risk	26	Bank's credit risk profile	21-31
	28	Reconciliation of the opening and closing balances of	23,28
		impaired loans and impairment allowances during the year
	29	Quantification of gross notional exposure for OTC	32
		derivatives or exchange-traded derivatives

For a full index of where to find all EDTF related disclosures, refer to our 2024 Annual Report.

-1-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

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 adjusted 3
	- diluted 4
	- diluted adjusted 3, 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
Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23

7,671	7,327	6,623	6,332	6,542	6,286	6,099	6,202
7,403	7,304	7,531	7,153	6,143	6,691	6,346	7,155
15,074	14,631	14,154	13,485	12,685	12,977	12,445	13,357
840	659	920	813	720	616	600	532

9,019	8,599	8,308	8,324	8,059	7,765	7,400	7,589
4,222	4,486	3,950	3,582	3,939	3,860	3,680	3,133
(3)	(3)	(2)	(2)	(2)	(2)	(1)	(2)
(91)	(106)	(67)	(58)	(67)	(58)	(67)	(44)
4,128	4,377	3,881	3,522	3,870	3,800	3,612	3,087
121	154	106	80	92	81	82	86
177	160	358	265	203	110	56	11
-	-	-	-	242	-	-	-
-	-	(155)	286	-	-	-	-
(38)	(38)	(28)	(21)	(24)	(20)	(16)	(15)
(43)	(35)	(76)	(47)	(36)	(26)	(13)	(3)
-	-	-	-	(65)	-	-	-
-	-	-	-	-	-	-	1,050
-	-	-	-	(578)	-	-	-
-	-	43	(79)	-	-	-	-
4,345	4,618	4,129	4,006	3,704	3,945	3,721	4,216

$2.92	$3.09	$2.75	$2.50	$2.77	$2.73	$2.60	$2.23
$3.07	$3.26	$2.92	$2.85	$2.65	$2.83	$2.68	$3.05
$2.91	$3.09	$2.74	$2.50	$2.76	$2.73	$2.60	$2.23
$3.07	$3.26	$2.92	$2.85	$2.65	$2.83	$2.68	$3.04
1,414,460	1,414,194	1,412,651	1,406,324	1,399,337	1,393,515	1,388,388	1,382,754
1,416,829	1,416,149	1,414,166	1,407,641	1,400,465	1,394,939	1,390,149	1,384,536
14.3%	15.5%	14.5%	13.1%	14.9%	14.9%	14.9%	12.6%
15.1%	16.4%	15.5%	14.9%	14.2%	15.4%	15.3%	17.2%
18.1%	19.9%	17.5%	15.3%	17.5%	17.5%	17.7%	15.0%
18.7%	20.4%	18.2%	17.1%	16.5%	17.9%	17.9%	20.1%
0.79%	0.85%	0.77%	0.68%	0.77%	0.77%	0.79%	0.60%
0.83%	0.89%	0.81%	0.77%	0.73%	0.80%	0.82%	0.81%
2.50%	2.70%	2.46%	2.41%	2.62%	2.61%	2.54%	2.02%
59.8%	58.8%	58.7%	61.7%	63.5%	59.8%	59.5%	56.8%
57.9%	56.6%	56.0%	57.9%	60.1%	58.4%	58.4%	56.1%

5.4%	13.2%	5.4%	12.1%	0.7%	8.8%	(12.2)%	(21.5)%
15.8%	15.2%	9.0%	(6.3)%	(4.7)%	11.0%	(10.4)%	5.9%
18.8%	12.7%	13.7%	1.0%	0.9%	7.0%	10.9%	2.2%
16.6%	12.7%	12.5%	3.1%	3.8%	15.0%	9.2%	10.7%
11.9%	10.7%	12.3%	9.7%	11.8%	21.6%	15.0%	15.3%
12.3%	9.4%	8.0%	6.5%	8.7%	19.8%	14.0%	15.0%
6.9%	2.0%	1.4%	(8.7)%	(10.9)%	(14.6)%	(4.1)%	(13.1)%
4.3%	3.3%	4.5%	(3.4)%	(4.9)%	(4.8)%	(4.8)%	(4.3)%
0.35%	0.27%	0.41%	0.37%	0.34%	0.29%	0.30%	0.25%
0.09%	0.01%	0.11%	0.06%	0.09%	0.06%	0.09%	0.08%
0.26%	0.26%	0.30%	0.31%	0.25%	0.23%	0.21%	0.17%
1.68%	1.58%	1.50%	1.41%	1.51%	1.50%	1.53%	1.47%
2.17%	2.11%	2.10%	2.07%	2.14%	2.02%	2.03%	2.10%
1.43%	1.38%	1.28%	1.20%	1.27%	1.25%	1.31%	1.18%
49.1%	49.9%	53.2%	53.0%	48.4%	51.6%	51.0%	53.6%

IFRS4

Q4/22

6,282

6,285

12,567

381

116

7,209

3,882

(6)

(67)

3,809

(16)

3,861

$2.75 $2.78 $2.74 $2.78

1,386,925

1,388,548

15.6%

15.8%

18.1%

0.77%

0.78%

2.52%

57.4%

2.2%

2.6%

1.5%

9.8%

9.5%

(8.0)%

0.3%

0.18%

0.06%

0.12%

1.56%

2.11%

1.25%

50.0%

IFRS17

2024 2023

27,953 25,129

29,391 26,335

57,344 51,464

3,232 2,468

34,250 30,813

16,240 14,612

(236)
15,908 14,369

461	341
960	380
-	242
131	-

(75)

(78)

(65)
1,050
(578)

-
17,098 15,586

$11.27 $10.33

$12.11 $11.21

$11.25 $10.32

$12.09 $11.19

1,411,903 1,391,020

1,413,755 1,392,529

14.4% 14.3%

15.5% 15.5%

17.7% 17.0%

18.6% 18.1%

0.77% 0.73%

0.83% 0.79%

2.52% 2.44%

59.7% 59.9%

57.1% 58.2%

9.0% (6.7)%

8.0%0.0%

11.4%5.1%

11.2%9.5%

11.2% 15.8%

9.1% 14.2%

0.2% (10.7)%

2.1% (4.7)%

0.35% 0.29%

0.07% 0.08%

0.28% 0.21%

1.54% 1.50%

2.12% 2.08%

1.33% 1.25%

51.3% 51.2%

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.
See 'Glossary' beginning on page 35 for explanation of composition of this measure.
Average common shares outstanding includes the impact of treasury shares held.
Growth rates are calculated based on results in the same period a year ago.

-2-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

FINANCIAL HIGHLIGHTS continued

(Millions of Canadian dollars, except otherwise noted)

CAPITAL MEASURES - CONSOLIDATED

Common Equity Tier 1 (CET1) capital ratio 1

Tier 1 capital ratio 1

Total capital ratio 1

Total RWA ($ billions) 1

Leverage ratio - all-in basis 1

Leverage ratio exposure - all-in basis 1

CALCULATION OF ROTCE

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

Average common equity 1

Less: Goodwill and Intangibles (net of tax) 1

Tangible common equity 2

ROTCE 2

EFFECTIVE TAX RATE

			IFRS17
Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23

13.2%	13.0%	12.8%	14.9%	14.5%	14.1%	13.7%	12.7%
14.6%	14.5%	14.1%	16.3%	15.7%	15.4%	14.9%	13.9%
16.4%	16.3%	16.1%	18.1%	17.6%	17.3%	16.8%	15.7%
672.3	661.2	653.7	590.3	596.2	585.9	593.5	614.3
4.2%	4.2%	4.2%	4.4%	4.3%	4.2%	4.2%	4.4%
2,344,228	2,271,007	2,219,019	2,173,419	2,179,590	2,142,032	2,116,380	1,921,310

4,211	4,493	3,959	3,581	3,938	3,861	3,678	3,158
114,750	112,100	108,650	107,100	103,250	101,450	99,450	97,300
22,200	22,200	16,600	13,950	14,150	14,100	14,200	14,050
92,550	89,900	92,050	93,150	89,100	87,350	85,250	83,250
18.1%	19.9%	17.5%	15.3%	17.5%	17.5%	17.7%	15.0%

IFRS4

Q4/22

12.6%

13.8%

15.4%

609.9

4.4%

1,898,179

3,861

97,150

12,500

84,650

18.1%

IFRS17

2024 2023

13.2% 14.5%

14.6% 15.7%

16.4% 17.6%

672.3 596.2

4.2%4.3%

2,344,228 2,179,590

16,244 14,635

110,650 100,400

18,650 14,100

92,000 86,300

17.7% 17.0%

Income Taxes (teb1)

Income Taxes

Taxable equivalent basis (teb) adjustment 1, 2

Income Taxes (teb1)

Net Income before taxes (teb1)

Net Income before taxes

Taxable equivalent basis (teb) adjustment 1, 2

Net Income before taxes (teb1)

Effective tax rate

Adjusted effective tax rate 2

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

ADDITIONAL SHARE INFORMATION

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

Treasury shares and other equity instruments held

preferred shares and other equity instruments (000s)
common shares (000s)

Stock options and awards outstanding (000s) Stock options and awards exercisable (000s) Dividends declared per common share

Dividend yield 1

Dividend payout ratio 1 Common dividends

Dividends on preferred shares and distributions on other equity instruments

Book value per share 1

Common share price (RY on TSX)

High
Low
Close, end of period

Market capitalization (TSX) 1

Market price to book value 1

1 See 'Glossary' beginning on page 35 for explanation of composition.

993	887	976	766	(33)	736	765	2,103
13	231	(4)	54	117	113	213	116
1,006	1,118	972	820	84	849	978	2,219
5,215	5,373	4,926	4,348	3,906	4,596	4,445	5,236
13	231	(4)	54	117	113	213	116
5,228	5,604	4,922	4,402	4,023	4,709	4,658	5,352
19.0%	16.5%	19.8%	17.6%	(0.8)%	16.0%	17.2%	40.2%
19.5%	16.9%	19.8%	18.3%	15.1%	16.3%	17.3%	20.1%
19.2%	20.0%	19.7%	18.6%	2.1%	18.0%	21.0%	41.5%
19.7%	20.1%	19.7%	19.2%	17.3%	18.3%	21.0%	21.8%

1,414,504	1,413,666	1,414,304	1,408,257	1,400,511	1,394,997	1,389,730	1,382,818
13	(39)	15	(34)	(9)	6	(6)	8
(576)	(1,387)	(546)	(651)	(1,862)	(1,231)	(969)	(3,042)
7,375	8,049	8,731	9,059	7,793	7,922	8,096	8,354
3,212	3,626	4,309	4,549	3,830	3,891	4,066	4,306
$1.42	$1.42	$1.38	$1.38	$1.35	$1.35	$1.32	$1.32
3.5%	3.9%	4.1%	4.5%	4.5%	4.2%	4.0%	4.0%
49%	46%	50%	55%	49%	50%	51%	59%
2,010	2,009	1,953	1,944	1,893	1,885	1,836	1,829
91	106	67	58	67	58	67	44
$83.46	$81.28	$79.24	$76.95	$76.92	$73.54	$73.06	$70.81
$175.04	$155.22	$140.77	$135.63	$130.50	$135.35	$140.18	$136.30
$145.58	$132.88	$127.60	$109.89	$107.92	$120.10	$125.32	$124.65
$168.39	$154.28	$133.19	$131.21	$110.76	$130.73	$134.51	$136.16
238,188	218,100	188,371	184,777	155,121	182,368	186,933	188,284
2.02	1.90	1.68	1.71	1.44	1.78	1.84	1.92

979

142

1,121

4,861

142

5,003

20.1%

20.2%

22.4%

1,382,911

(12)

(2,680)

7,535

3,502 $1.28

4.0%

47%

1,774

67 $72.85

$129.95 $116.75 $126.05

174,316

1.73

3,622 3,571

294559

3,916 4,130

19,862 18,183

294559

20,156 18,742

18.2% 19.6%

18.6% 17.3%

19.4% 22.0%

19.7% 19.7%

1,414,504 1,400,511

13(9)

(1,862)
7,375 7,793
3,212 3,830
$5.60 $5.34
3.9%4.3%
50%52%

7,916 7,443

322236

$83.46 $76.92

$175.04 $140.18

$109.89 $107.92

$168.39 $110.76

238,188 155,121

2.021.44

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.
Common shares outstanding has been adjusted to include the impact of treasury shares.

-3-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

FINANCIAL HIGHLIGHTS continued

(Millions of Canadian dollars, except otherwise noted)

SELECTED BALANCE SHEET INFORMATION Average loans and acceptances, net Total Assets

Average assets

Average assets excluding trading assets 1 and insurance assets 1

Average earning assets, net 1 Deposits

Common equity 1 Average common equity 1

			IFRS17
Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23

972,900	968,500	908,000	870,900	867,500	854,900	850,200	844,900
2,171,582	2,076,107	2,031,050	1,974,405	2,006,531	1,959,063	1,942,223	1,934,580
2,132,800	2,110,500	2,098,200	2,092,200	2,039,200	1,990,100	1,903,200	2,081,900
1,309,000	1,294,800	1,201,900	1,149,900	1,147,300	1,134,300	1,134,900	1,291,100
1,816,000	1,843,400	1,801,400	1,787,700	1,722,200	1,665,600	1,640,100	1,674,500
1,409,531	1,361,265	1,327,603	1,241,168	1,231,687	1,215,671	1,210,053	1,203,842
118,058	114,899	112,065	108,360	107,734	102,583	101,528	97,923
114,750	112,100	108,650	107,100	103,250	101,450	99,450	97,300

IFRS4	IFRS17
Q4/22	2024	2023

829,600	930,200	854,400
1,917,219	2,171,582	2,006,531
1,991,500	2,108,500	2,004,500
1,266,600	1,239,000	1,138,000
1,600,100	1,812,200	1,676,000
1,208,814	1,409,531	1,231,687
100,746	118,058	107,734
97,150	110,650	100,400

OTHER INFORMATION

Number of employees (full-time equivalent) Canada

U.S.

Other

Total

Number of banking branches

Canada

U.S.

Other

Total

Number of automated teller machines (ATMs)

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

69,238	70,475	69,576	65,147	66,172	67,959	67,178	65,948
16,078	16,226	15,689	15,821	15,837	16,359	15,640	15,285
9,522	9,464	9,215	9,198	9,389	9,435	11,580	11,429
94,838	96,165	94,480	90,166	91,398	93,753	94,398	92,662
1,189	1,241	1,245	1,145	1,143	1,149	1,150	1,157
64	64	64	64	65	69	69	69
39	39	39	39	39	39	39	39
1,292	1,344	1,348	1,248	1,247	1,257	1,258	1,265
4,367	4,426	4,447	4,341	4,341	4,353	4,357	4,363
9,851	9,718	9,681	9,192	9,016	8,837	8,774	8,579
7,802	7,609	7,415	7,038	6,865	6,639	6,429	6,287

64,922	69,238	66,172
15,059	16,078	15,837
11,446	9,522	9,389
91,427	94,838	91,398
1,162	1,189	1,143
70	64	65
39	39	39
1,271	1,292	1,247
4,368	4,367	4,341
8,405	9,851	9,016
6,129	7,802	6,865

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	400	325	325	535	651	580	824	663
Economic value of equity	(2,076)	(1,822)	(2,149)	(1,649)	(1,552)	(1,999)	(1,726)	(2,069)
Before-tax impact of 100 bps decrease in rates on:
Net interest income risk 3	(502)	(425)	(458)	(622)	(751)	(648)	(894)	(776)
Economic value of equity	1,663	1,399	1,803	1,309	1,353	1,789	1,507	1,808

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.

781	400	651
(1,900)	(2,076)	(1,552)
(839)	(502)	(751)
1,709	1,663	1,353

-4-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

STATEMENTS OF INCOME

(Millions of Canadian dollars)

Net interest income

Interest and dividend income

Interest expense

Total

Non-interest income

Accounts

Other payment services

Service charges

Insurance service result 1

Insurance investment result 1

Insurance premiums, investment and fee income

Trading revenue

Investment management and custodial fees

Mutual fund revenue

Securities brokerage commissions

Underwriting and other advisory fees

Foreign exchange revenue, other than trading

Card service revenue

Credit fees

Net gains (losses) on investment securities

Income (loss) from joint ventures and associates

Other

Total

Total revenue

Provision for credit losses

Insurance policyholder benefits, claims and acquisition expense Non-interest expense

Income before income taxes Income taxes

Net income

Net income attributable to:

Shareholders

Non-controlling interests (NCI)

Net income

Non-controlling interests (NCI)

Dividends on preferred shares and distributions on other equity instruments Net income available to common shareholders

1 See 'Glossary' beginning on page 35 for explanation of composition of this measure.

			IFRS17

Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23

26,498	27,090	25,754	25,609	24,502	22,834	20,318	19,337
18,827	19,763	19,131	19,277	17,960	16,548	14,219	13,135
7,671	7,327	6,623	6,332	6,542	6,286	6,099	6,202
428	418	399	399	396	377	363	362
168	169	158	155	152	152	148	149
596	587	557	554	548	529	511	511
173	214	203	187	137	149	225	192
66	28	59	141	64	151	14	(73)

383	507	633	804	408	485	430	1,069
2,501	2,382	2,257	2,185	2,106	2,099	2,083	2,056
1,189	1,151	1,067	1,030	1,014	1,034	1,000	1,015
428	413	431	388	363	362	377	361
656	676	734	606	563	472	458	512
301	292	287	262	248	289	322	433
332	324	291	326	302	334	279	325
358	405	434	395	411	342	357	379
13	28	59	70	2	27	111	53
11	(57)	18	12	(223)	(37)	12	29
396	354	501	193	200	455	167	293
7,403	7,304	7,531	7,153	6,143	6,691	6,346	7,155

15,074	14,631	14,154	13,485	12,685	12,977	12,445	13,357
840	659	920	813	720	616	600	532

9,019	8,599	8,308	8,324	8,059	7,765	7,400	7,589
5,215	5,373	4,926	4,348	3,906	4,596	4,445	5,236
993	887	976	766	(33)	736	765	2,103
4,222	4,486	3,950	3,582	3,939	3,860	3,680	3,133
4,219	4,483	3,948	3,580	3,937	3,858	3,679	3,131
3	3	2	2	2	2	1	2
4,222	4,486	3,950	3,582	3,939	3,860	3,680	3,133
4,222	4,486	3,950	3,582	3,939	3,860	3,680	3,133
(3)	(3)	(2)	(2)	(2)	(2)	(1)	(2)
(91)	(106)	(67)	(58)	(67)	(58)	(67)	(44)
4,128	4,377	3,881	3,522	3,870	3,800	3,612	3,087

IFRS4

Q4/22

14,898

8,616

6,282

365

147

512

644

451

1,900

1,010

349

481

266

310

337

(23)

6,285

12,567

381

116

7,209

4,861

979

3,882

3,876

3,882

(6)

(67)

3,809

IFRS17

2024 2023

104,951 86,991

76,998 61,862

27,953 25,129

1,644 1,498

650601

2,294 2,099

2,327 2,392

9,325 8,344

4,437 4,063

1,660 1,463

2,672 2,005

1,142 1,292

1,273 1,240

1,592 1,489

170193
(219)
1,444 1,115

29,391 26,335

57,344 51,464

3,232 2,468

34,250 30,813

19,862 18,183

3,622 3,571

16,240 14,612

16,230 14,605

107

16,240 14,612

(236)
15,908 14,369

-5-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

REVENUE FROM TRADING ACTIVITIES (Millions of Canadian dollars)

Total trading revenue 1

Net interest income 2

Non-interest income 3

Total

Trading revenue by product

Interest rate and credit 3

Equities

Foreign exchange and commodities

Total

Trading revenue (teb1) by product

Interest rate and credit 3

Equities

Foreign exchange and commodities

Total (teb1)

Trading revenue (teb1) by product - Capital Markets

Interest rate and credit 3

Equities

Foreign exchange and commodities

Total (teb1)

Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23	Q4/22


520	475	403	344	345	510	469	186	403
383	507	633	804	408	485	430	1,069	451

903	982	1,036	1,148	753	995	899	1,255	854
476	561	595	739	524	652	602	750	430
210	210	238	159	97	171	81	255	179
217	211	203	250	132	172	216	250	245
903	982	1,036	1,148	753	995	899	1,255	854
476	561	595	739	524	652	602	750	430
209	199	232	206	207	275	182	362	305
217	211	203	250	132	172	216	250	245
902	971	1,030	1,195	863	1,099	1,000	1,362	980
407	494	539	667	457	616	536	679	385
206	208	226	232	170	271	190	382	308
191	185	182	230	134	150	196	232	226
804	887	947	1,129	761	1,037	922	1,293	919

2024 2023

1,742 1,510

2,327 2,392

4,069 3,902

2,371 2,528

4,069 3,902

2,371 2,528

1,026

4,098 4,324

2,107 2,288

1,013

3,767 4,013

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.
Includes loan underwriting commitments.

REALIZED GAINS AND LOSSES ON INVESTMENT SECURITIES		Q4/24	Q3/24	Q2/24	Q1/24	Q4/23		Q3/23	Q2/23	Q1/23	Q4/22
(Millions of Canadian dollars)

Realized gains		22	35	70		70	8	42	112	60	39
Realized losses		(9)	(7)	(11)		-	(6)	(15)	(1)	(7)	(62)
Net gains (losses) on investment securities
	13	28	59		70	2	27	111	53	(23)

2024 2023

(29)

-6-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

NON-INTEREST EXPENSE

(Millions of Canadian dollars)

Human resources

Salaries

Variable compensation

Benefits and retention compensation

Share-based compensation 1 Total Human resources

Equipment Depreciation

Computer rental and maintenance

Office equipment rental and maintenance Total Equipment

Occupancy Premises rent

Premises repairs and maintenance Depreciation

Property taxes Total Occupancy

Communications Telecommunications Postage and courier Marketing and public relations Stationery and printing

Total Communications

Professional fees

Amortization of other intangibles Computer software

Other

Total Amortization of other intangibles

Other

Business and capital taxes Travel and relocation Employee training Donations

Outsourced item processing Impairment of other intangibles Other

Total Other

Total non-interest expense

			IFRS17

Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23

2,345	2,310	2,145	2,078	2,239	2,160	2,069	2,010
2,348	2,246	2,161	2,083	1,955	1,816	1,811	2,026
582	615	606	605	489	545	561	544
148	235	179	397	(17)	243	132	270
5,423	5,406	5,091	5,163	4,666	4,764	4,573	4,850
90	89	89	91	92	92	88	90
579	536	523	523	516	517	496	475
5	4	3	5	4	2	5	4
674	629	615	619	612	611	589	569
50	20	22	13	17	14	17	23
140	139	132	129	117	124	128	122
283	244	249	229	231	232	225	225
41	40	38	36	36	39	35	34
514	443	441	407	401	409	405	404
29	39	38	39	38	40	38	36
50	51	67	56	46	45	50	51
246	227	228	204	238	213	206	169
23	25	25	22	22	23	24	22
348	342	358	321	344	321	318	278
657	547	697	624	692	591	506	382
277	272	267	272	274	288	301	276
121	154	106	80	83	81	82	86
398	426	373	352	357	369	383	362
43	23	25	17	58	23	25	31
43	42	35	32	33	41	43	41
14	13	15	10	13	14	14	15
48	44	41	35	45	46	35	33
31	31	34	29	27	27	31	27
50	4	12	2	71	14	12	11
776	649	571	713	740	535	466	586
1,005	806	733	838	987	700	626	744
9,019	8,599	8,308	8,324	8,059	7,765	7,400	7,589

IFRS4

Q4/22

1,935

1,959

486

4,383

477

571

109

235

401

211

319

472

286

354

516

709

7,209

IFRS17

2024 2023

8,878 8,478

8,838 7,608

2,408 2,139

959628

21,083 18,853

359362

2,161 2,004

1715

2,537 2,381

1,005913

155144

1,805 1,619

145152

224192

1,369 1,261

2,525 2,171

1,088 1,139

461332

1,549 1,471

108	137
152	158
52	56
168	159

2,709 2,327

3,382 3,057

34,250 30,813

1 Share-based compensation includes the cost of stock options, performance deferred shares, deferred compensation plans and the impact of related economic hedges.

-7-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

PERSONAL BANKING 1

(Millions of Canadian dollars, except percentage amounts)

Income Statement

Q4/24	Q3/24	Q2/24	Q1/24	Q4/23	Q3/23	Q2/23	Q1/23	Q4/22		2024	2023

Net interest income

Non-interest income

Total revenue

PCL on performing assets 2

PCL on impaired assets 2

Total PCL

Non-interest expense

Income taxes

Net income

Total revenue by business

Canada

Caribbean & U.S. Banking

Total

Financial ratios

ROE 3

NIM (average earning assets, net) 3

Efficiency ratio 3

Operating leverage 3

Average balances 3

Total assets

Earning assets, net 3

Loans and acceptances, net 4

Residential mortgages 4

Home equity lines of credit (HELOC) 4

Other personal 4

Total personal 4

Credit cards 4

Total retail 4

Wholesale loans and acceptances 4, 5

Personal deposits

Business deposits

Attributed capital 3

Risk capital 3

Credit quality

GIL / Related loans and acceptances 3

PCL on performing loans (Stage 1 and 2) / Average net loans and acceptances PCL on impaired loans (Stage 3) / Average net loans and acceptances

Net write-offs 3 / Average net loans and acceptances

Business information

AUA 3, 6

AUM 3

Number of employees (full-time equivalent) 7

After-tax effect of amortization of other intangibles

3,346	3,253	2,985	2,854	2,867	2,786	2,612	2,680	2,562
1,312	1,237	1,178	1,177	1,142	1,112	1,099	1,173	1,151
4,658	4,490	4,163	4,031	4,009	3,898	3,711	3,853	3,713
124	30	104	134	87	(5)	87	132	31
359	361	360	330	287	240	219	217	178
483	391	464	464	374	235	306	349	209
2,033	1,941	1,787	1,724	1,781	1,723	1,661	1,648	1,702
563	572	509	490	488	530	465	493	447
1,579	1,586	1,403	1,353	1,366	1,410	1,279	1,363	1,355

4,366	4,210	3,877	3,753	3,725	3,627	3,453	3,596	3,473
292	280	286	278	284	271	258	257	240
4,658	4,490	4,163	4,031	4,009	3,898	3,711	3,853	3,713

23.8%	23.7%	25.5%	26.6%	27.9%	29.3%	28.3%	30.1%	29.7%
2.49%	2.45%	2.43%	2.34%	2.35%	2.32%	2.27%	2.26%	2.18%
43.6%	43.2%	42.9%	42.8%	44.4%	44.2%	44.8%	42.8%	45.8%
2.1%	2.5%	4.6%	0.0%	3.4%	0.1%	(1.2)%	2.6%	1.1%

552,400	547,100	514,200	498,800	496,800	489,500	483,000	481,400	477,400
534,500	528,900	499,500	486,200	484,200	477,100	471,000	469,800	465,600
525,000	519,400	489,900	476,600	474,100	467,300	461,200	460,100	455,500
413,500	409,500	384,000	372,100	371,000	365,200	361,400	359,900	355,900
37,100	36,800	35,300	34,600	34,400	35,100	35,100	35,800	36,300
44,800	44,000	42,800	42,000	41,600	40,600	39,400	39,200	39,000
81,900	80,800	78,100	76,600	76,000	75,700	74,500	75,000	75,300
25,000	24,500	23,200	23,100	22,400	21,700	20,500	20,500	19,800
520,400	514,800	485,300	471,800	469,400	462,600	456,400	455,400	451,000
7,500	7,500	7,500	7,400	7,100	7,100	7,100	6,900	6,700
402,400	398,100	365,100	346,400	338,700	331,300	323,500	312,100	300,600
28,600	28,100	25,700	23,300	24,500	24,000	24,100	23,100	22,700
26,000	26,200	22,200	19,950	19,150	18,900	18,350	17,900	17,850
17,150	17,400	16,200	15,500	14,650	14,600	14,450	14,050	13,950

0.31%	0.30%	0.27%	0.26%	0.22%	0.20%	0.20%	0.20%	0.19%
0.10%	0.02%	0.09%	0.11%	0.07%	(0.01)%	0.08%	0.11%	0.03%
0.27%	0.28%	0.30%	0.28%	0.25%	0.21%	0.20%	0.19%	0.16%
0.28%	0.24%	0.27%	0.24%	0.21%	0.19%	0.19%	0.16%	0.15%

255,400	250,000	238,600	218,600	205,200	216,900	219,000	217,600	209,700
6,400	6,300	6,400	6,100	5,900	5,700	5,800	5,600	5,600
38,642	39,472	39,246	36,368	37,017	38,206	38,534	38,083	37,525
35	36	16	4	5	4	5	3	4

12,438 10,945

4,904 4,526

17,342 15,471

392301

1,410963

1,802 1,264

7,485 6,813

2,134 1,976

5,921 5,418

16,206 14,401

1,136 1,070

17,342 15,471

24.8% 28.9%

2.43% 2.30%

43.2% 44.0%

2.2% 1.3%

528,200 487,900

512,300 475,500

502,700 465,700

394,800 364,400

36,000 35,100

43,400 40,200

79,400 75,300

24,000 21,300

498,200 461,000

7,500 7,000

378,200 326,400

26,400 23,900

23,600 18,550

16,550 14,450

0.31% 0.22%

0.08% 0.06%

0.28% 0.21%

0.26% 0.19%

255,400 205,200

6,400 5,900

38,642 37,017

9117

Commencing the fourth quarter of 2024, the Personal & Commercial Banking segment became two standalone business segments: Personal Banking and Commercial Banking. With this change, Direct Investing is now reported under the Wealth Management segment. Certain amounts have been revised from those previously presented to conform to our new basis of segment presentation.
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.
Average loans and acceptances, net are reported net of allowance for credit losses (ACL). All other average balances are reported on a gross basis (before deducting ACL).
Includes Caribbean Wholesale lending.
AUA represents period-end spot balances and includes securitized residential mortgages and credit card loans as at October 31, 2024 of $15 billion and $6 billion, respectively (July 31, 2024 of $15 billion and $6 billion; October 31, 2023 of $13 billion and $7 billion).
Includes FTE for all shared services across Personal Banking and Commercial Banking, for which the related Non-interest expenses are allocated from Personal Banking to Commercial Banking.

-8-	ROYAL BANK OF CANADA
4th Quarter 2024 - Supplementary Financial Information

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RBC - Royal Bank of Canada published this content on December 04, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 04, 2024 at 11:04:55.770.