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Royal Bank of Canada reports first quarter 2015 results

TORONTO, February 25, 2015 -  Royal Bank of Canada (RY on TSX and NYSE) today reported record net income of $2,456 million for the first quarter ended January 31, 2015, up $364 million or 17% from the prior year, and up $123 million or 5% from the prior quarter. Net income was up $272 million or 12%(1), excluding specified items in the prior year as noted below. Our results were primarily driven by record earnings in Personal & Commercial Banking and strength in Capital Markets due to strong trading results and M&A activity. Our performance this quarter also reflects record results in Investor & Treasury Services, continued strength in Insurance and solid earnings in Wealth Management. Credit quality also remains strong with a PCL ratio of 0.24%. Today we announced an increase to our quarterly dividend of $0.02 or 3% to $0.77 per share.

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