April 8, 2020 / 1:34 PM / 3 months ago

Royal Bank of Canada has processed 250,000 payment deferrals due to COVID-19-CEO

TORONTO, April 8 (Reuters) - Royal Bank of Canada has processed about 250,000 payment deferrals on mortgages and other loans to help navigate its customers through the COVID-19 crisis, its chief executive told shareholders on Wednesday.

Canada’s biggest bank is “well-positioned” to manage through the economic downturn caused by the COVID-19 outbreak in the immediate term, CEO Dave McKay said in prepared remarks for its online annual shareholders meeting.

“Our strong capital and liquidity position enables us to remain resilient, and keep growing. Our diversified business mix is a key advantage,” McKay added. (Reporting By Nichola Saminather Editing by Denny Thomas and Chizu Nomiyama)

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