TD reports higher profit on Canadian banking and capital markets strength, raises dividend

Toronto-Dominion Bank reported earnings above analysts’ expectations, helped by higher profit from its Canadian banking and capital markets units and lower provisions for sour loans. The result points to improved credit quality and operating performance at the lender. The news is positive for TD specifically but is likely only moderately market-moving.

Analysis

Toronto-Dominion Bank reported earnings above analysts’ expectations, helped by higher profit from its Canadian banking and capital markets units and lower provisions for sour loans. The result points to improved credit quality and operating performance at the lender. The news is positive for TD specifically but is likely only moderately market-moving.