Investing.com - Financial Markets Worldwide
🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 1-TD third-quarter profit beats expectations

Published 2015-08-27, 08:34 a/m
© Reuters. UPDATE 1-TD third-quarter profit beats expectations
TD
-

(Adds energy-sector loans data, segment earnings)
TORONTO, Aug 27 (Reuters) - Canadian lender Toronto Dominion
Bank TD.TO reported higher third-quarter earnings that topped
market estimates on Thursday, boosted by gains in its domestic
retail and capital markets divisions.
Gross impaired loans in its pipelines, oil and gas portfolio
rose 59 percent to C$35 million, from C$22 million in the second
quarter. Less than 1 percent of TD's loan book comes from the
energy sector, making it among the least exposed of the major
Canadian banks.
TD's Canadian retail division recorded earnings growth of 11
percent, helped by loan growth and insurance business strength.
The wholesale banking division's profit climbed 11 percent,
driven by a rise in trading and mergers and acquisitions fees.
Overall net income in the quarter ended July 31 rose to
C$2.27 billion, or C$1.19 per share, from C$2.11 billion, or
C$1.11 per share, a year ago.
Excluding items, profit climbed to $1.20 per share.
Analysts on average had expected earnings of C$1.18 per
share, according to Thomson Reuters I/B/E/S.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.