February 27, 2020 / 11:41 AM / a month ago

Canada's TD Bank profit jumps 24% on wholesale banking strength

FILE PHOTO: The Toronto-Dominion (TD) bank logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

(Reuters) - TD Bank Group (TD.TO) reported a 24% rise in quarterly profit on Thursday, as Canada’s second-biggest lender by market value benefited from strong performance in its wholesale banking unit.

Net income rose to C$3 billion, or C$1.61 per share, in the first-quarter ended Jan. 31, from C$2.41 billion, or C$1.27 per share, a year earlier.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Shinjini Ganguli

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