TD tops estimates as higher rates and loan activity boost Q3 profit - BNN Bloomberg

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TD said its net income in the three months ending July 31 was $3.21 billion, marking a nine per cent drop from a year earlier when it earned $3.55 billion.

Overall profit was weighed down by $351 million in provisions for credit losses, which was the most that TD had set aside for loans that could eventually go bad since the fourth quarter of 2020. The most significant driver of profit growth in the quarter was TD's U.S. retail business, where net income rose seven per cent year-over-year to US$1.12 billion.

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