国际英语新闻：Canada's largest bank reports nearly 1.3 billion dollars income for third quarter

TORONTO, Aug. 26 (Xinhua) -- Royal Bank of Canada (RBC), the country's largest bank, Thursday reported net income of 1,276 million Canadian dollars (about 1.199 U.S. dollars) for the third quarter ended July 31, 2010 reflecting strong results in Canadian Banking, Wealth Management and Insurance.

Capital Markets was impacted by lower trading results due to challenging market conditions. Net income was down 285 million Canadian dollars or 18 percent from a record quarter last year, reflecting a decline of 361 million in capital markets and down 53 million Canadian dollars or four percent from last quarter, reflecting a decline of 301 million Canadian dollars in capital markets.

Business growth, improvements in credit quality and the ongoing cost management efforts were more than offset by a significant decline in trading revenue as volatility and general uncertainty in global capital markets reduced client activity.

"We continue to build on our strong competitive positions and invest in our businesses for long term growth," said Gordon M. Nixon, RBC President and CEO, adding that "the strength of our geographic and business diversity enabled us to produce another solid quarter despite challenging global capital market conditions. " (1 U.S. dollar = 1.06 Canadian dollars)