Royal Bank of Canada Q2 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : I just want to ask about the deposit growth trends in the Canadian Bank. I'll use the word Chase, you might not, but it seems to me like Royal going out of its way to bring in more deposits to the bank. And then maybe you're not, but what is the motivation there? Is it market share? Do you want to -- you expect to convert some of these customers to core banking customers? Or is it a mix of factors, like the structure of your business. You've got a bigger wealth franchise. You've got a bigger independent broker business, the biggest in Canada. So some of the flows from wealth type and broker money that might have a disproportionate effect on your deposit growth and it's good, but it's also bad.

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : Okay. And then a quick one on expenses. Just the way you display at 16% growth, about half of that. I get calling out the HSBC acquisition, but why should I look at Brewin Dolphin in a distinct manner because it's in the revenue line as well.