RBC's earnings beat expectations as clients' oil woes diminish

By Matt Scuffham TORONTO (Reuters) - Royal Bank of Canada on Wednesday reported third-quarter results which beat market expectations, with funds set aside to cover bad loans falling thanks to higher oil prices. RBC said its provision for credit losses had fallen to the equivalent of 0.24 percent of its total loans during the quarter, down 12 basis points, mainly due to lower provisions in the oil and gas sector. The bank also benefited from a strong performance from its wealth management and cap