TD Bank Financial Group is reporting a big jump in profit for the first quarter ended January 31 as a result of revenue increases and better than expected loan losses.

The bank has reported a 74% rise in quarterly profit and increased its divided, crediting revenue increases and

TD it earned $603 million, or 88¢ per share, in the quarter, up from $347 million, 50¢, a year ago.

Excluding one-time items, the bank earned $782 million, or $1.15 per share, up sharply from $480 million, or 70¢ a share.

The bank’s revenues increased to $1.48 billion from $1.39 billion.

Return on equity rose to 20% from 11%.

Retail banking, wholesale banking and wealth management all contributed to the higher results. Retail banking, posted double-digit earnings growth, while wholesale banking and wealth management both benefited from stronger market sentiment.

The bank also increased its quarterly dividend by 2¢ to 34¢ per share.

“This quarter showed that we have three strong businesses all successfully executing on their strategies,” said TD CEO Edmund Clark in a news release.

“Steadily growing revenues combined with better than expected credit loss recoveries in commercial banking to deliver exceptionally strong earnings growth this quarter.”