Royal Bank of Canada says it can release $130-million in provisions set up to deal with uncertainty surrounding several tax matters.
RBC will also earn $50-million in interest income, after taxes, related to taxes paid in previous years, the bank announced Monday.
The items will be reflected in the bank’s third-quarter results.
The country’s biggest bank reported Thursday that its net income from continuing operations during its fiscal second quarter dropped to $1.56-billion, or $1.01 per share, down from $1.68-billion or $1.10 per share a year ago. .