Royal Bank of Canada today reported higher profits for the second quarter ended April 30.

Royal said its quarterly income rose 14% to $1.28 billion, or 93¢ a share.

The bank’s return on common equity came in at 23.5%, up 0.5 of a percentage point from the same quarter last year.

Spurred on by good results from most of its banking and wealth management businesses, Royal said its year-over-year revenues jumped 11% to $5.67 billion.

The bank said its provision for loan losses increased $64 million, or 52%, from a year ago to $188 million, mainly due to growth in its consumer lending.

Commenting on the results, Gordon Nixon, president & CEO, said “Our results this quarter reflected the continuing strong earnings of our Canadian Banking and Wealth Management segments, which were up 21% and 22%, respectively. Year to date, our businesses are progressing well towards our 2007 objectives.”