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TD Bank reports rising profits in Q3

TD Bank Group has reported its results for the third quarter of its financial year, including reported net income of $1,703m, equating to reported diluted earnings per share of $1.78.

This compares favourably with the reported net income of $1,490m ($1.58 diluted earnings per share) the firm achieved in the corresponding period last year.

Quarterly adjusted net income also rose, increasing from $1,635m to $1,820m (diluted earnings per share rising from $1.75 to $1.91).

In the first nine months of the firm’s financial year it has made a reported net income of $4,874m (diluted earnings per share of $5.11), up from $4,456m (diluted earnings per share of $4.75) in the first nine months of the previous financial year.

Adjusted net income for the 9M period was $5,318m (equating to diluted earnings per share of $5.59), up from $4,776m ($5.10 diluted earnings per share).

Group President and Chief Executive Officer Ed Clark described Q3 as another great quarter for the bank.

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