Royal Bank of Canada, the country's top bank by market capitalisation, reported fourth-quarter profit above analyst expectations helped by its acquisition HSBC's domestic business this year and strength at its wealth management division.

RBC beats analyst forecasts for the fourth quarter and full year on solid average volume growth and higher spreads in retail and commercial banking and higher corporate & investment banking revenue in

In October, the Bank of Canada cut interest rates for the fourth time in a row, marking a shift towards a low inflation era, and boosting banks' loan growth as lower rates prompt consumers to take more loans.