TORONTO — TD Bank Group reported a first-quarter profit of $4.04 billion, a significant increase from the $2.79 billion reported in the same period last year, the bank announced Thursday.
The profit translates to $2.34 per diluted share for the quarter ending January 31, up from $1.55 per diluted share a year prior, according to the bank’s report. Revenue also rose, reaching $16.59 billion compared to $14.05 billion in the first quarter of 2025.
TD’s provision for credit losses decreased to $1.04 billion, down from $1.21 billion a year ago. Adjusted earnings per diluted share were reported at $2.44, an increase from $2.02 during the same quarter last year. The results exceeded analyst expectations, with an average estimate of $2.26 per share, according to LSEG Data & Analytics.
“We achieved robust trading and fee income growth in our markets-driven businesses, volume growth in Canadian personal and commercial banking, and margin expansion,” said Raymond Chun, TD’s chief executive, in a prepared statement.
The Canadian personal and commercial banking segment achieved a record $2.04 billion in earnings, up from $1.83 billion in the previous year, driven by increased loan and deposit volumes and record revenue.
TD’s U.S. Banking operations also saw substantial growth, earning $1.04 billion in the quarter, a considerable increase from $342 million reported in the first quarter of 2025.
The bank’s wealth management and insurance business reported earnings of $757 million, up from $680 million a year earlier, benefiting from record assets under management, strong transaction revenue, and growth in insurance premiums. Wholesale banking operations, including capital markets, earned $561 million for the quarter, compared to $299 million in the same period last year.
The financial results were initially released on February 26, 2025, and subsequently reported by multiple news outlets on February 27, 2025, including CNW and PR Newswire.
