Canada's largest bank says it lost $50 million or seven cents per share during the quarter ended April 30, reversing profits of $928 million or 70 cents per share booked a year ago.

Stripping out one-time items, the bank says its cash earnings per share came in at 97 cents, above a 91 cent per share forecast by analysts surveyed by Thomson Financial but well below last year's second-quarter cash earnings of $1.25 per share.

The bank had announced the impairment charge last month, attributing it to ongoing weakness in the U.S. housing market and overall economy.

Despite the loss, the bank says its Canadian operations performed well with growth across all businesses.

The Royal says its tier one capital ratio, a key performance indicator, stands at 11.4 per cent.

The bank is also leaving its quarterly dividend unchanged at 50 cents per share.