The Globe and Mail reports in its Thursday, Dec. 4, edition that Royal Bank of Canada and National Bank of Canada reported significant fourth quarter earnings increases as they aim for higher profitability in the coming years. The Globe's Stefanie Marotta writes that in the quarter ending Oct. 31, the banks experienced a rise in equities trading and merger activity due to stock market volatility and the U.S. trade war. Both banks anticipate an increase in return on equity, although tariff uncertainty may still impact the economy. RBC raised its target on ROE to 17 per cent or more in the next few years. The change comes after RBC quickly surpassed the 16-per-cent goal it set at its investor day in March. But RBC remains cautious as trade uncertainty lingers ahead of negotiations over the United States-Mexico-Canada Agreement. National also said it is targeting a return on equity of 17 per cent by 2027, a jump from its current level of 14.6 per cent. National chief executive officer Laurent Ferreira said he expects to reach the $270-million cost savings target from the merger by the end of 2026—one year ahead of schedule. The bank will also record revenue synergies of $200-million to $250-million by the end of 2028.