Royal Bank of Canada reported a 14 per cent rise in second quarter earnings with the help of a strong performance in its wealth management business. This newly-created segment reported 22 per cent growth in second-quarter net income, reflecting higher revenue in its brokerage, asset management and global private banking businesses owing to the ongoing “successful execution of growth initiatives and generally favorable market conditions”, according to an RBC statement. But this growth had a cost: overall, non-interest expense rose 8 per cent to C$3.15 billion ($291 million), largely owing to an increase in client-facing staff and higher variable compensation on improved commission-based revenue in wealth management.