TD Bank reports $4.6B Q3 profit, up from $3.3B a year ago, revenue also up
TD Bank Group reported a significant increase in third-quarter profit to $4.62 billion, exceeding analyst expectations. The growth was driven by record earnings in its Canadian retail and wholesale banking divisions.
Why it matters
Strong bank earnings are a key indicator of economic health and consumer credit stability in the North American financial sector.
TORONTO — TD Bank Group reported a third-quarter profit of $4.62 billion, up from $3.34 billion in the same quarter last year, helped by record earnings in its Canadian businesses and wholesale banking. The bank says the profit amounted to $2.74 per diluted share for the quarter ended July 31, up from $1.89 per diluted share a year earlier.
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