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UPDATE 1-Toronto-Dominion Bank's quarterly profit rises 10.4 pct

Published 2016-05-26, 07:12 a/m
© Reuters. UPDATE 1-Toronto-Dominion Bank's quarterly profit rises 10.4 pct
TD
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(Adds details)
May 26 (Reuters) - Toronto-Dominion Bank TD.TO , Canada's
second-biggest lender, reported a 10.4 percent rise in quarterly
profit on Thursday, helped by growth in its retail banking
business.
The Toronto-based bank's Canadian retail operations earned
C$1.5 billion ($1.16 billion) in the second quarter ended April
30, an increase of 2 percent from last year, while its U.S.
retail business earned C$719 million, a rise of 21 percent.
The bank said it put aside C$584 million to cover bad loans
in the period, compared with C$642 million in its first quarter
and C$375 million in the second quarter of 2015.
Net income rose to C$2.05 billion, or C$1.07 per share, from
C$1.86 billion, or 97 Canadian cents per share, a year earlier.
($1 = 1.2951 Canadian dollars)

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