The first big bank will report bonuses next week and they're up 16%

Royal Bank of Canada reported its results today. Insiders say it won't announce its bonuses until next week. When it does announce bonuses, they could a pleasant surprise. 

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As the chart below, from RBC's new annual report, shows spending on cash-based variable compensation is up 16% on last year. Share-based compensation is up 50%.

The figures apply to RBC as a whole. Bonuses aren't broken out for the investment bank specifically. Investment banking revenues at RBC rose nearly 17% in 2024. Global markets revenues were relatively stable and the bank failed to benefit from rising revenues in equities sales and trading.

This time last year, bonuses at RBC were a source of apparent disappointment. 

Source: RBC

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