The bank’s adjusted earnings came to $4.06 billion in the three months ending Oct. 31, or $2.18 per share, beating average analyst expectations of $2.07 per share. TD Bank alsoThere was an error, please provide a valid email address.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
For the full 2022 fiscal year, TD Bank reported a net income of $17.43 billion, up more than 20 per cent from last year. TD’s personal and commercial banking led the gains with this segment’s net income rising 11 per cent in the fourth quarter to $1.69 billion. Revenues increased 16 per cent on higher net interest income and more client acquisition and activity.
The U.S. retail banking segment, excluding TD’s investment in the Charles Schwab Corp., reported a profit of $1.23 billion, rising nine per cent from a year ago. Profits in TD’s wealth management and insurance segment fell 15 per cent to $516 million as insurance claims expenses grew.
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