TD Bank Group reported a third-quarter profit of $4.6 billion, up from $3.3 billion in the same quarter last year, helped by record earnings in its Canadian businesses and wholesale banking.
The bank said Thursday the profit amounted to $2.74 per diluted share for the quarter ended July 31, up from $1.89 per diluted share a year earlier.
On an adjusted basis, TD says it earned $2.77 per diluted share in its latest quarter, up from an adjusted profit of $2.20 per diluted share in the same quarter last year.
Revenue for the quarter totalled $16.9 billion, up from $15.3 billion a year earlier.
TD’s provision for credit losses amounted to $917 million, down from $971 million in the same quarter last year.
Analysts on average had expected a profit of $2.47 per share and $15.3 billion in revenue, according to LSEG Data & Analytics.
“We enter the final quarter of 2026 from a position of strength, moving with speed to capture the significant growth opportunities across our businesses,” TD chief executive Raymond Chun said in a statement.
“TD’s strong capital position enables us to support our clients’ growing needs, invest in our business and return excess capital to our shareholders.”
TD said its Canadian personal and commercial banking business delivered record revenue, earnings, deposit and loan volumes as it earned $2.1 billion in its third quarter, up from $2 billion a year ago.
TD’s U.S. banking arm earned $1.1 billion in its latest quarter, up from $760 million in the same quarter last year.
The bank’s wealth management and insurance business earned $841 million in the quarter, up from $703 million a year ago, while its wholesale banking business earned $743 million in the third quarter, up from $398 million a year ago.