Royal Bank Of Canada : Resolves Several Outstanding Tax Matters
05/28/2012| 10:14am US/Eastern
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All amounts are unaudited and in Canadian dollars unless
otherwise noted.
TORONTO, May 28, 2012 - Royal Bank of Canada (RY on TSX and
NYSE) today announced that it has resolved several tax
matters and will release approximately $130 million of tax
uncertainty provisions previously recorded against businesses
which were discontinued in previous years. In addition, RBC
will earn interest income of $70 million ($50 million
after-tax) related to a refund of taxes paid in previous
years. The financial impact of this settlement will be
reflected in RBC's third quarter results.
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Investor Relations Contacts
Robert Colangelo, Associate Director,
Investor Relations, robert.colangelo@rbc.com,
416-955-2049
Media Relations Contacts
Tanis Robinson, Director, Financial Communications,
tanis.robinson@rbc.com,
416-955-5172
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