Free Trial

TD Bank: Revenue Positive, Credit Solid, Restructuring Means Profit Miss

FINANCIALS

TD Bank (TD: A1/A/AA-) results headlines looks like revenues slightly better, capital and credit losses broadly inline but larger restructuring costs meaning a pre-tax profit miss (CAD3.1bn vs. 4.0bn est). Mgmt claiming underlying beat:


  • TD BANK 2Q ADJ EPS C$2.04, EST. C$1.85
  • TD BANK 2Q PROVISION FOR CREDIT LOSSES C$1.07B, EST. C$1B
  • TD BANK 2Q CET1 RATIO 13.4%, EST. 13.5%
  • Toronto-Dominion Bank 2Q Rev C$13.82B >TD (cons: 13.60bn)
More to follow...

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.