TD Bank Group (TD) today announced its financial results for the third quarter ended July 31, 2017, reflecting:

  • impressive earnings and revenue growth,
  • better credit performance across all their businesses,
  • and lower insurance claims

    • THIRD QUARTER FINANCIAL HIGHLIGHTS (all amounts are expressed in Canadian dollars) compared with the third quarter last year:

  • Reported earnings: UP 17% to $2.8 billion
  • Reported diluted earnings per share: UP 17.7% to $1.46,
  • Adjusted diluted earnings per share: UP 18.9% to $1.51,
  • Reported net income: UP 17.4% to $2,769 million
  • Adjusted net income: UP 18.6% to $2,865 million.

    • YEAR-TO-DATE FINANCIAL HIGHLIGHTS (all amounts are expressed in Canadian dollars)

  • Reported diluted earnings per share: UP 17.6% to $4.08
  • Adjusted diluted earnings per share: UP 14.8% to $4.18
  • Reported net income: UP 17.66% to $7,805 million
  • Adjusted net income: UP 14.96% to $7,984 million

    • Canadian Retail (all amounts are expressed in Canadian dollars)

  • net income: UP 14% to $725 million, an increase of 14% from the third quarter last year, reflecting good revenue growth and lower insurance claims.

    • U.S. Retail (all amounts are expressed in U.S. dollars)

  • net income: UP 11.3% to $678 million
  • The U.S. Retail Bank net income (which excludes the Bank’s investment in TD Ameritrade): UP 15% to $590 million compared with the third quarter last year. On a year-to-date basis revenue growth was UP 10% to $504 million
  • TD Ameritrade earnings: DOWN 9% to $88 million compared with the third quarter last year.

    • Wholesale Banking

  • net income was $293 million reflecting revenue growth from corporate lending and trading.

    • Capital

  • TD’s Common Equity Tier 1 Capital ratio on a Basel III fully phased-in basis was 11.0%, compared to 10.8% last quarter.

    • Bharat Masrani, Group President and Chief Executive Officer commented in today’s press release:

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