TD Bank profit up 5 percent on wealth, retail lines

Thu Feb 28, 2008 7:40am EST
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TORONTO (Reuters) - Higher profits in wealth management and retail banking drove a 5-percent rise in first-quarter profit at Toronto-Dominion Bank, it said on Thursday.

Toronto-Dominion, Canada's second largest bank by market value, said it earned C$970 million ($989 million), or C$1.33 a share, in the three months ended January 31. That was up from C$921 million, or C$1.26 a share, in the same period a year earlier.

($1=0.98 Canadian)

(Reporting by Lynne Olver; Editing by Scott Anderson)