TD sees earnings boost

TD Bank reported earnings of $6.7 billion in the fourth quarter, with adjusted earnings up $4.1 billion – a jump of 5%.

That net income came in at $2.18 a share, up from $2.09 a year earlier and surpassing analyst expectations compiled by Refinitiv.

On a yearly basis, the bank posted adjusted net income of $15.43 billion, an increase from $14.65 billion in 2021, with the results helped by a strong fourth quarter in its personal and commercial banking segment.

That division saw net income of $1.7 billion in Q4, an increase of 11% over the same quarter last year, with TD’s US retail segment also recording a significant increase in reported net income in the fourth quarter – by 12% (CAD) to $1.54 billion.

TD president and CEO Bharat Masrani said the results reflected a “strong year” that showed its diversified business model and approach to risk and financial management had paid off.