Over 2019, loan-loss reserves up 50% at RBC

Provisions for credit losses for loans increased C$172 million ($130 million) at Royal Bank of Canada to $505 million in the year to end-October.

It’s the second-highest amount of loan PCLs disclosed by RBC since the switch to accounting standard IFRS 9, which requires banks to put aside reserves for both impaired loans – known as stage three assets – and performing loans – known as stage one and two assets.

Loan PCLs as a percentage of average loans and acceptances were 0.32% for the quarter

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