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The Globe and Mail

Tax resolution to boost RBC third quarter

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.

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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. .

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