TORONTO — TD Bank Group reported its third-quarter profit fell compared with a year ago as its provisions for credit losses rose. The bank says its net income totalled $2.96 billion or $1.
TORONTO — TD Bank Group reported its third-quarter profit fell compared with a year ago as its provisions for credit losses rose.
The bank says its net income totalled $2.96 billion or $1.57 per diluted share for the quarter ended July 31, down from $3.21 billion or $1.75 per diluted share a year earlier.Provisions for credit losses amounted to $766 million, up from $351 million a year earlier. On an adjusted basis, TD says it earned $1.99 per diluted share in its latest quarter, down from $2.09 per diluted share in the same quarter last year.
The average analyst estimate had been for a profit of $2.04 per diluted share, based on estimates compiled by financial markets data firm Refinitiv.The Canadian Press
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