Toronto-Dominion Bank reported fiscal third-quarter adjusted diluted earnings per share of C$2.77 on Thursday, up 26% from C$2.20 in the same period a year earlier, as total revenue rose 5% to C$16.92 billion.
The Toronto-based lender’s adjusted net income increased to C$4.67 billion from C$3.87 billion, while the provision for credit losses declined to C$917 million from C$1 billion. Adjusted return on equity rose to 16% from 14.4%, and adjusted return on tangible common equity increased to 19.1% from 17.2%.
TD’s Canadian Personal and Commercial Banking segment posted net income of C$2.10 billion, a 7% year-over-year increase, with revenue up 5% at C$5.52 billion. U.S. Banking adjusted net income climbed 12% to C$1.07 billion, while return on equity reached 10.2%. Wealth Management and Insurance net income rose 20% to C$841 million, driven by record assets and higher insurance premiums.
Wholesale Banking delivered the strongest performance, with adjusted net income surging 76% to C$743 million on higher revenue and lower credit loss provisions, partially offset by increased non-interest expenses.
TD shares were up 1.4% in U.S. premarket trading at 06:49 ET. CEO Raymond Chun highlighted record earnings in Canadian operations and Wholesale Banking, alongside growing momentum in U.S. Banking, attributing the results to disciplined execution and strategic investments in technology and talent.
