RBC CEO says commercial client sentiment has weakened; shares fall

Shares of Royal Bank of Canada RY.TO fall 0.52% to C$165.23 in early trading

"Commercial client sentiment has weakened as companies in some sectors are deferring investments until they have greater certainty on tariff impacts to their businesses," says RBC's CEO, Dave McKay, at the bank's first investor day in seven years

U.S. President Donald Trump on Thursday unveiled a 25% tariff on imported vehicles, expanding a global trade war, hammering stocks and testing already strained ties with allies

McKay underscored the role of artificial intelligence in fueling the top Canadian lender's next phase of growth

RBC expects over 7% growth in diluted EPS and 16% ROE in the medium term

"Canada must build a more resilient economy," says McKay

RBC stock rose ~30% in 2024