TORONTO: Royal Bank of Canada, Canada's biggest lender, reported a higher third-quarter profit on Wednesday, as strength in personal and commercial banking offset a decline in its capital markets division.

Net income for the quarter ended July 31 was C$2.48 billion, or C$1.66 per share, compared with C$2.38 billion, or C$1.59 per share, in the third quarter of 2014.

Analysts on average had expected earnings of C$1.67 a share, according to Thomson Reuters I/B/E/S.

Copyright Reuters, 2015