TD Bank quarterly profit beats estimates

[August 25, 2022]  TORONTO (Reuters) - Toronto-Dominion Bank beat analysts' estimates for third-quarter profit on Thursday, on the back of growth in the lender's Canadian and U.S. retail banking units.

A logo of Toronto Dominion Bank (TD) is seen at a branch location in Toronto, March 6, 2014. REUTERS/Aaron Harris/File Photo

Net income excluding one-off items was C$3.81 billion, or C$2.09 per share, in the three months ended July 31, compared with C$3.63 billion, or C$1.96 per share, a year earlier. Analysts had expected C$2.04 a share, according to Refinitiv data.

Canada's second-largest lender reported overall net profit of C$3.21 billion, or C$1.75 a share, from C$3.55 billion, or C$1.92 per share, a year earlier.

(Reporting By Nichola Saminather in Toronto and Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)

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