|Royal Bank of Canada - RY.t is the largest financial institution in Canada. The bank serves 18 million clients and has 80,100 employees worldwide.|
It was incorporated as a Canadian chartered bank in 1869, and has grown to become one of North America's leading diversified financial services companies providing banking, wealth management, insurance and capital markets services on a global basis.
Royal Bank of Canada today reported net income of $3,012 million for the first quarter ended January 31, 2018, which includes the impact of the U.S. Tax Reform(1) of $178 million, or $0.12 per share, primarily related to the write-down of net deferred tax assets. Net income was down $15 million from a year ago and diluted EPS(2) of $2.01 was up 2%. Excluding last year’s specified item related to the gain on sale of the U.S. operations of Moneris(3), net income was up 7% and EPS was up 10% from a year ago.