TD profit soars to $2.22 billion in first quarter

TD Bank grew its first-quarter profit by roughly eight per cent to $2.22 billion on higher earnings from its Canadian and U.S. retail banking operations.
TD's revenue for the first quarter came to $8.61 billion, up from $7.61 billion a year ago. (CBC)

TD Bank grew its first-quarter profit by roughly eight per cent to $2.22 billion on higher earnings from its Canadian and U.S. retail banking operations.

That's up from the $2.06 billion that the bank reported during the first quarter of last year.

The earnings amounted to $1.17 per diluted share, up from $1.09 per share a year ago.

On an adjusted basis, TD earned $2.25 billion, or $1.18 per share, up from $2.12 billion, or $1.12 per share, during the same period last year.

Revenue for the quarter came to $8.61 billion, up from $7.61 billion a year ago.

TD also says its its quarterly dividend will rise by four cents, or eight per cent, to 55 cents per share — payable on April 30.

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