May 22, 2014 / 10:59 AM / 5 years ago

TD Bank profit rises on strong retail lending

TORONTO (Reuters) - Toronto-Dominion Bank said on Thursday that its quarterly profit rose 16 percent on the back of strong Canadian and U.S. retail lending.

Canada’s second-largest bank earned C$1.99 billion ($1.82 billion), or C$1.04 a share, in the second quarter ended April 30, compared with C$1.72 billion, or 89 Canadian cents a share, a year earlier.

Excluding items, including a C$63 million charge for amortization of intangibles, the bank earned C$1.09 per share. That was ahead of analysts’ expectations of C$1.02, according to Thomson Reuters I/B/E/S.

TD operates a 1,300-branch network on the U.S. East Coast in addition to its Canadian retail bank. It also owns about 40 percent of TD Ameritrade Holding Corp AMTD.N.

Reporting by Cameron French; Editing by Lisa Von Ahn

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below