(Bloomberg) -- RBC posted fiscal first-quarter profit that missed analysts' estimates as earnings from insurance and capital markets fell and the lender set aside more money for soured energy loans. The bank raised its quarterly dividend 2.5%.
Net income for the period ended Jan. 31 fell 0.4% to C$2.45 billion ($1.77 billion), or C$1.58 a share, from C$2.46 billion, or C$1.65, a year earlier, the Toronto-based firm said Wednesday in a statement. Adjusted profit, which excludes some items, was C$1.64 a share, trailing the C$1.66 average estimate of 14 analysts surveyed by Bloomberg. Revenue fell 3% to C$9.36 billion.
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