U.S. bank's year-over-year profit jumped 42%
The bank's profit rose 4% during the final quarter of the year
Both banks beat earnings expectations
The bank earned $5.14B in the fourth quarter
The bank reported $1.02B in profit in the fourth quarter
Dave McKay told analysts Wednesday that the economy could still suffer some blows
The bank was weighed down by support it offered through mortgage, credit card and personal loan programs
The bank has announced its capital markets energy business will now focus only on the Canadian energy sector
The banks will focus on long-term resiliency when they unveil their fourth-quarter results, analysts say
Assets under management reached $177.7 billion, up 3.9% from the previous quarter