2011 and Fourth Quarter Results
Capital Markets revenue by geography
$ millions
Geographic revenue
Canada
U.S.
Europe
Asia and Other
Geographic revenue excluding certain items (1)
RBC
Q4 2011
Q3 2011
Q4 2010
FY 2011
FY 2010
$ 500
$ 547
$ 620
$ 2,445
$ 2,305
450
563
514
2,434
2,415
194
120
212
795
859
19
36
67
157
211
1,163
1,266
1,413
5,831
5,790
Add/(Deduct):
CVA MBIA (2)
99
102
137
BOLI (3)
(36)
(66)
66
(115)
75
CVA other (4)
47
(34)
(49)
50
(133)
Fair value adjustment on RBC debt (4)
50
(3)
(36)
63
18
Capital Markets total revenue (teb)
$ 1,224
$ 1,163
$ 1,493
$ 5,931
$ 5,887
• In Canada, full year revenue growth was driven by higher debt and equity origination and M&A activity; down
YoY and QoQ reflecting a weaker issuance and M&A environment in Q4/11.
• Full year revenue growth in investment banking in the U.S. was driven by stronger syndicated finance, equity
origination and M&A. In Europe, growth in investment banking was driven by higher M&A activity.
⚫U.S. and Europe were significantly impacted by lower fixed income trading reflecting deteriorating market
conditions in the latter half of the year.
(1) Non-GAAP measure: see slide 28 for discussion of non-GAAP measures.
RBC 2011 AND FOURTH QUARTER RESULTS
(2) Excluded from Europe. (3) Excluded from U.S. (4) Excluded from all geographies.
Gross impaired loans (GIL)
25
25
RBC
0.95%
0.85%
0.79%
0.79%
0.78%
$ millions
GIL Ratio
2,679
2,428
2,287
2,364
2,387
Corporate Support
Capital Markets
731
649
634
722
784
International Banking
Canadian Banking
1,406
1,410
1,388
1,313
1,270
Q4/10
Q1/11
Q2/11
Q3/11
Q4/11
GIL Ratio (1)
Q4/10
Q1/11
Q2/11
Q3/11
Q4/11
0.51%
0.50%
0.49%
0.45%
0.43%
7.87%
7.71%
7.97%
9.08%
9.34%
1.41%
0.82%
0.70%
0.88%
0.83%
(1) GIL Ratio: gross impaired loans as a percentage of related average net loans and acceptances, annualized.
RBC 2011 AND FOURTH QUARTER RESULTS
26View entire presentation