TD Bank plans to open 100 new U.S. branches through 2028, reports $4.6B Q3 profit
- On Thursday, Toronto-Dominion Bank reported third-quarter earnings that beat analyst expectations, as the lender curbed expenses while navigating regulatory challenges in the United States.
- Addressing previous regulatory penalties, TD is fixing money laundering gaps in the U.S. while planning to open 100 new branches south of the border by 2028.
- Adjusted net income reached $4.67 billion, or $2.77 per share, beating the $2.47 per share analysts expected, with total revenue rising 10 per cent to $16.89 billion.
- Canadian personal and commercial banking profit rose seven per cent to $2.1 billion, while wholesale banking profit climbed 87 per cent to $743 million, driving strong results.
- Chief Executive Raymond Chun expressed optimism about growth, though he noted tariff developments "have added significant uncertainty to the Canada-U.S. trade relationship.
13 Articles
13 Articles
TD Bank plans to open 100 new U.S. branches through 2028, reports $4.6B Q3 profit
TD Bank Group is planning to grow its presence in the United States as it moves forward with measures to combat money laundering risks in response to penalties issued by U.S. regulators. The bank announced Thursday it would open 100 new branches south of the border by the end of 2028, subject to reg...
TD Bank Group made an increase in profits in the third quarter, thanks to record results in its operations in Canada and in its wholesale banking sector.
Toronto Dominion Bank (NYSE:TD) Announces Earnings Results
Toronto Dominion Bank (NYSE:TD - Get Free Report) (TSE:TD) announced its quarterly earnings data on Thursday. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.24. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.
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