May 23, 2019 / 10:50 AM / a month ago

Canada's TD Bank posts 6.7% rise in quarterly profit

FILE PHOTO: The Toronto-Dominion (TD) bank logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

(Reuters) - TD Bank Group reported a 6.7% rise in adjusted second-quarter profit on Thursday, as Canada’s second-biggest lender by market value benefited from strong performance in its retail business.

Net income, excluding special items, rose to C$3.27 billion ($2.43 billion), or C$1.75 per share, in the three months ended April 30, from C$3.06 billion, or C$1.62 per share, a year earlier.

Analysts on average expected earnings per share of C$1.67, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.

Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj Kalluvila

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