Dave McKay said Canada’s largest lender won’t be making any changes to business plans or credit strategy in response to Trump’s 25 per cent proposed tariffs on Canada. “It’s important not to overreact,” McKay said in a call with shareholders, following the bank’s fourth-quarter earnings. “This was a strong message that we have to improve certain aspects of our operations in Canada around our borders,” he added, placing the onus on political leaders to resolve the issue. (The Logic)

Talking point: RBC beat expectations with $4.2 billion in quarterly net income—a 7 per cent increase from the same quarter last year, which the company partially attributed to its acquisition of HSBC Canada. Revenue rose about 3 per cent year-over-year. While net profit in the bank’s corporate support segment—which includes finance, human resources, risk management and internal audit arms—plunged 145 per cent year-on-year, the impact was softened by growth in RBC’s wealth management and insurance divisions. Chief risk officer Graeme Hepworth acknowledged the uncertainty of evolving trade tensions, but assured investors the bank was monitoring its potential impact.