Canada’s biggest bank reported a $5.4 billion profit for the fourth quarter—a 29 per cent jump from last year. It’s also the first Canadian bank to earn more than $20 billion in a single fiscal year, according to Bloomberg. (The Logic, Bloomberg)

Talking point: RBC’s net income was lifted by a 45 per cent jump in capital markets profit to $1.4 billion, and a 32.5 per cent rise in its wealth management division to $1.28 billion on higher fee-based client assets and sales. The lender also set $1 billion aside for bad loans, slightly above analyst estimates polled by S&P Global Market Intelligence. In a note to clients, Scotiabank analyst Mike Rizvanovic said that although credit losses were slightly higher this quarter, they “remained at very manageable levels.” Meanwhile, National Bank, which announced its partial takeover of Laurentian Bank on Tuesday, beat profit estimates on a 41 per cent jump in capital markets earnings to $432 million after missing expectations last quarter.