Royal Bank of Canada Chief Executive Gordon Nixon on Friday acknowledged, but did not resolve, lingering questions about the company's U.S. strategy.
There has been rampant speculation in recent weeks that the company might seek a partner for, or sell, its troubled 420-branch operation in the United States.
"We do remain focused on turning around these operations, and we are making good progress," Nixon said a few minutes into a conference call with analysts. Noting that the company's capital markets and wealth management divisions are separate from its retail banking operations, Nixon said the bank is "fully committed to the U.S. market. … We have been building strong relationships, winning key mandates, and gaining market share."
RBC posted 13% earnings growth and a 4-cent dividend increase on Friday. Though analysts had expected profits to come in slightly higher than the $1.5 billion that RBC posted, the company benefited from strength in its Canadian banking and wealth management operations.
