TD Bank Group
reported a first-quarter profit of $2.82-billion, up from $1.58-billion a year earlier, as its revenue also climbed higher.
The bank says the profit amounted to $1.55 per diluted share for the quarter ended Jan. 31, up from a profit of 82 cents per diluted share in the same quarter last year.
Revenue totalled $13.71-billion, up from $12.20-billion.
TD’s provisions for credit losses for the quarter amounted to $1.00-billion, up from $690-million a year earlier.
On an adjusted basis, TD says it earned $2.00 per diluted share, down from an adjusted profit of $2.23 per diluted share in its first quarter last year.
Analysts on average had expected a profit of $1.89 per share, according to estimates compiled by financial markets data firm Refinitiv.