Impaired loans drop 17% at RBC
Repayments on bad credits up 47% quarter on quarter
Royal Bank of Canada’s portfolio of bad loans shrunk by almost a fifth over the three months to October 31, as repayments and write-offs more than offset a new wave of soured exposures.
Gross impaired loans totalled C$3.2 billion ($2.5 billion), down from C$3.9 billion at end-July. These accounted for 0.47% of total gross loans as of end-October, down from 0.57% three months prior.
RBC said repayments on bad loans amounted to C$560 million last quarter – 47% higher than in fiscal Q3 – and
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