Royal Bank of Canada at Scotiabank Financials Summit Transcript
Our next speaker like to introduce Chief Executive Officer of Royal Bank of Canada Dave McKay.
Questions & Answers
Awesome. Maybe we could start with the quarter just because it was a bit of an outsized result once again, basically. it's a good thing. I mean you beat expectations.
Your ROE now sits at north of 18%. Just maybe start with the ROE actually. Are you somewhat surprised with how much it's gone in terms of the positive traction that you've seen?
No. I mean you saw us two years ago set a 17%-plus ROE target, but we kept saying plus-plus because we knew the significant opportunities we had to drive the market-leading ROE in the country and improve upon that. you look at the drivers of that, it is very much kind of revenue efficiency and cost efficiency. We added 100 basis points in '24 from 15.5% to 16.5% then in '25, 16.5% to 17.5%, and now you see us moving through 2026,
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