* Q4 EPS C$1.01 vs C$1.22 yr-ago
* Loan losses rise 81 pct from yr-ago
* Says wholesale banking unit swings to profit
* Says emerges from mkt crisis with business model intact
Dec 3 (Reuters) - Toronto Dominion Bank TD.TO posted flat quarterly earnings and said its Canadian personal and commercial banking division saw strong volume growth across its products and its wholesale banking business swung to profitability.
Canada’s second-largest bank said it had net income of C$1.01 billion ($962.8 million), or C$1.12 a share, in the fourth quarter ended Oct. 31, compared with C$1.01 billion, C$1.22 a share, in the same quarter a year earlier.
The bank’s Canadian personal and commercial banking unit posted a 4 percent increase in earnings, while its Wholesale Banking unit swung to a profit of $372 million, from a loss of $228 million in the year-ago period.
Adjusted net income was C$1.31 billion, or C$1.46 a share, compared with $665 million, or 79 Canadian cents a share, last year.
Analysts on average had expected the bank to post a profit of C$1.30 a share, according to Thomson Reuters I/B/E/S.
“We are emerging from the financial crisis and economic recession with our business model intact and with momentum on our side, and there will be opportunities for us to continue taking advantage of TD’s position of strength,” Chief Executive Ed Clark said in a statement.
TD, which has big retail operations in both Canada and the United States, said the amount of money it had set aside to cover bad loans rose in the quarter.
Provisions for credit losses rose 81 percent to C$521 million from last year.
Credit woes have plagued global banks as consumers and businesses struggled to repay loans during the recession.
Shares of the bank closed at C$67.79 Wednesday on the Toronto Stock Exchange. ($1=1.049 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Gopakumar Warrier) ((email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))