Go to the Globe and Mail homepage

Jump to main navigationJump to main content


Report on Business


Streetwise gives you news and analysis on Bay Street and the world of finance
available exclusively to subscribers of Globe Unlimited

Entry archive:

The new normal in Canadian banking Add to ...

Subscribers Only

Buried in Royal Bank of Canada's quarterly results last month was a sense of the new normal at Canadian banks.

Royal Bank, proud owner of a retail profit machine, routinely set high performance standards, then beat those benchmarks.

Canada's largest bank targeted a 20 per cent return on equity - lofty by any measure - and far exceeded that goal by hitting a 24.6 per cent REO in 2007. Profit was to rise by between 7 and 10 per cent - again, stunning growth for a mature business. Royal Bank's earnings rose 17 per cent in 2007, and CEO Gord Nixon and his team made it look easy.

Report Typo/Error

Next story




Most popular videos »

More from The Globe and Mail

Most popular