TORONTO May 22 Toronto-Dominion Bank said on
Thursday that its quarterly profit rose 16 percent on the back
of strong Canadian and U.S. retail lending.
Canada's second-largest bank earned C$1.99 billion ($1.82
billion), or C$1.04 a share, in the second quarter ended April
30, compared with C$1.72 billion, or 89 Canadian cents a share,
a year earlier.
Excluding items, including a C$63 million charge for
amortization of intangibles, the bank earned C$1.09 per share.
That was ahead of analysts' expectations of C$1.02, according to
Thomson Reuters I/B/E/S.
TD operates a 1,300-branch network on the U.S. East Coast in
addition to its Canadian retail bank. It also owns about 40
percent of TD Ameritrade Holding Corp.
($1 = 1.0934 Canadian dollars)
(Reporting by Cameron French; Editing by Lisa Von Ahn)