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TD Bank Group reported a first-quarter profit of $4.04 billion, a substantial increase from the $2.79 billion recorded during the same period last year, the bank announced Thursday.
The profit translates to $2.34 per diluted share for the quarter ended January 31, up from $1.55 per diluted share a year prior, according to the bank’s statement. Total revenue reached $16.59 billion, exceeding the $14.05 billion reported in the first quarter of 2025.
TD’s provision for credit losses decreased to $1.04 billion, down from $1.21 billion a year ago. On an adjusted basis, the bank’s earnings per diluted share rose to $2.44, compared to $2.02 in the previous year. This adjusted figure surpassed the average analyst estimate of $2.26 per share, as tracked by LSEG Data & Analytics.
“We achieved robust trading and fee income growth in our markets-driven businesses, volume growth in Canadian personal and commercial banking, and margin expansion,” said Raymond Chun, TD’s chief executive, in a prepared statement.
The Canadian personal and commercial banking segment delivered a record performance, earning $2.04 billion, an increase from $1.83 billion in the year-ago quarter. This growth was driven by increased loan and deposit volumes, resulting in record revenue for the segment.
TD’s U.S. Banking operations also saw significant improvement, reporting earnings of $1.04 billion for the quarter, a considerable jump from the $342 million earned in the same period last year. The bank’s wealth management and insurance business contributed $757 million to the overall profit, up from $680 million, benefiting from record assets and increased transaction revenue.
Wholesale banking operations, including capital markets, generated $561 million in earnings for the quarter, a substantial increase from $299 million the previous year.