Royal Bank of Canada 2002 Annual Report

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U.S. GAAP

Canadian GAAP

Canadian GAAP Consolidated financial statements Management’s responsibility for financial reporting Auditors’ report Consolidated balance sheet Consolidated statement of income Consolidated statement of changes in shareholders’ equity Consolidated statement of cash flows Notes to the Consolidated financial statements Download Consolidated financial statements as a single file Supplementary information

Consolidated statement of income
For the year ended October 31 ($ millions)		2002		2001		2000
Interest income
Loans	$	10,463	$	12,032	$	11,538
Securities		3,075		3,281		2,669
Assets purchased under reverse repurchase agreements		651		1,163		1,078
Deposits with banks		483		831		824
		14,672		17,307		16,109
Interest expense
Deposits		5,709		8,712		9,057
Other liabilities		1,399		1,668		1,429
Subordinated debentures		406		410		344
		7,514		10,790		10,830
Net interest income		7,158		6,517		5,279
Provision for credit losses		1,065		1,119		691
		6,093		5,398		4,588
Other income
Capital market fees		1,866		1,523		1,538
Trading revenues		1,766		1,820		1,540
Investment management and custodial fees		1,179		1,096		860
Deposit and payment service charges		1,041		887		756
Mutual fund revenues		723		692		624
Card service revenues		496		458		420
Foreign exchange revenue, other than trading		279		312		299
Credit fees		223		237		212
Mortgage banking revenues		222		206		–
Insurance revenues		204		201		191
Securitization revenues		174		123		115
Loss on sale of securities		(116)		(128)		(11)
Gain from divestitures		–		445		–
Other		505		343		188
		8,562		8,215		6,732
Non-interest expense
Human resources		6,315		5,723		4,651
Occupancy		796		724		570
Equipment		820		771		665
Communications		801		686		695
Professional fees		419		412		267
Amortization of goodwill		–		248		76
Amortization of other intangibles		72		36		11
Other		1,197		1,155		646
		10,420		9,755		7,581
Net income before income taxes		4,235		3,858		3,739
Income taxes		1,365		1,340		1,445
Net income before non-controlling interest		2,870		2,518		2,294
Non-controlling interest in net income of subsidiaries		108		107		20
Net income	$	2,762	$	2,411	$	2,274

Preferred share dividends		98		135		134
Net income available to common shareholders	$	2,664	$	2,276	$	2,140
Average number of common shares (in thousands)		672,571		641,516		606,389
Earnings per share (in dollars)	$	3.96	$	3.55	$	3.53
Average number of diluted common shares (in thousands)		678,120		647,216		609,865
Diluted earnings per share (in dollars)	$	3.93	$	3.52	$	3.51