December 5, 2019 / 11:42 AM / 8 months ago

TD Bank Group's quarterly profit falls 3.5%

Dec 5 (Reuters) - TD Bank Group reported a 3.5% fall in fourth-quarter profit on Thursday, as Canada’s second-biggest lender by market value was hurt by higher provisions for loan losses and a restructuring charge.

Net income fell to C$2.86 billion ($2.15 billion), or C$1.54 per share, in quarter ended Oct. 31, from C$2.96 billion, or C$1.58 per share, a year earlier.

Excluding items, the lender earned C$1.59 per share.

$1 = 1.3301 Canadian dollars Reporting by Abhishek Manikandan in Bengaluru; Editing by Vinay Dwivedi

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