RBC posts record $12.4B net income for 2018 helped by rate hikes, tax cuts by from on 2018-11-28 19:12 (#43X2B) Royal Bank of Canada's latest quarterly earnings beat expectations with a 15-per-cent jump in net income, helped by rising interest rates and U.S. tax reforms, to cap off a year where the lender generated a record annual profit of $12.4 billion.