Canada Daily

RBC Breaks Profit Record and CEO McKay Gives a Warning: Canada Daily

Plus: Brookfield pulls over in Peru

RBC’s headquarters in Toronto. The bank earned more than C$20 billion for the first time in fiscal 2025.Photographer: Laura Proctor/Bloomberg

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By Thomas Seal

December 3, 2025 at 10:00 PM UTC

Welcome back to Canada Daily, our newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up here .

Royal Bank of Canada kicked off the day with a royal flush of earnings. The numbers invited a list of superlatives: Canada’s most valuable company posted record annual profit, driving its shares to their highest-ever level (market cap: C$306 billion, or $219 billion).