RBC

The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters.

Canadian Imperial Bank of Commerce and Royal Bank of Canada both set aside much less money than expected last quarter to cover loan losses.

The top executive at Royal Bank of Canada expressed reluctance about expanding south of the border again, citing what he characterized as a changing regulatory landscape and pointing to lessons learned from the 2015 acquisition of City National Bank.

Nadine Ahn was terminated on April 5 along with fellow exec Ken Mason after the bank received an anonymous tip that the two were romantically involved. Both deny it and are suing the bank for millions.

The Toronto-based bank has spent the last two years gathering client input and building a platform for customers to manage the flow of payments and receivables, pay taxes in the most efficient jurisdictions, balance currency risks and more.

As he updated RBC shareholders on a disappointing quarter, CEO Dave McKay cited the U.S. banking crisis and gridlock over the debt ceiling.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

Four companies — Regions Financial, MUFG Americas Holdings and the U.S. arms of the Royal Bank of Canada, BMO Financial— felt they had something to prove to the Federal Reserve after being assigned higher capital buffers than most of their peers last year. Will their decisions pay off for shareholders?

Nineteen of the nation's largest banks plus four smaller firms will be tested against baseline and severely adverse economic scenarios. The central bank will release details on their performance on June 24.

Royal Bank of Canada says it is raising internal targets for the number of racial minorities in executive roles to improve diversity in its leadership ranks.