Canada's major banks release financial results

Canada's major banks RBC, CIBC and Toronto-Dominion Bank released their financial results on Thursday. Royal Bank of Canada has reported a fourth-quarter profit of 4.13-billion dollars up from 3.88-billion dollars a year earlier.

Revenue totaled a bit more than 13-billion dollars in Q-4, up from 12.6-billion dollars in the same quarter last year. Meanwhile, the bank's provision for credit losses jumped to 720-million dollars, up from 381-million dollars a year earlier.

CIBC has reported a 1.48-billion dollar profit for its fourth quarter ended October 31st.That's compared with a profit of nearly 1.19-billion dollars a year earlier. The bank also upped its quarterly dividend to 90 cents per share up from 87 cents per share Revenue also went up totaling 5.8-billion dollars for Q-4 compared with nearly 5.4-billion dollars a year earlier

TD Bank Group says it earned 2.89 billion-dollars in its fourth-quarter down from a profit of 6.67-billion dollars a year earlier. T-D says its revenue totaled 13.1-billion dollars down from about 15.5-billion dollars in the same quarter last year. Its provision for credit losses amounted to 878-million dollars, up from 617-million dollars a year earlier.