RBC Stays the Course With Growth Targets Despite Trade Turmoil

Royal Bank of Canada is continuing on a path it charted almost seven years ago, confirming at its investor day that it will maintain its current growth and profitability targets while also warning that trade turmoil could throw those off track.

Canada’s largest bank aims to deliver 7% or better earnings-per-share growth and return on equity of at least 16% across the organization over the next three to five years, Chief Executive Officer Dave McKay said Thursday. For the purpose of those targets, “our base-case forecasts exclude assumptions of the short- and long-term impact of tariffs,” he said during Royal Bank’s investor day.