By Allison Prang

TD Bank Group's first-quarter profit rose over 2% from the comparable quarter a year prior, helped by its investment in TD Ameritrade and by a lower income-tax provision.

But, noninterest expenses, TD's provision for credit losses and insurances claims and related expenses increased by at least 20% each.

That outpaced revenue growth. Total revenue at TD rose 6.6% to C$10 billion ($7.6 billion).

The Canada-based company reported net income of C$2.39 billion, up 2.4%. It reported earnings of C$1.27 a share, up from C$1.24 a share. Analysts polled by Refinitiv were expecting C$1.49 a share.

Earnings on an adjusted basis were C$1.57 a share, up from C$1.56 a share. Analysts were expecting C$1.72 a share.

TD's provision for income taxes fell 52% to C$503 million. Its equity in net income of an investment in TD Ameritrade more than doubled to C$322 million.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

February 28, 2019 07:28 ET (12:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Toronto Dominion Bank (TSX:TD)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Toronto Dominion Bank.
Toronto Dominion Bank (TSX:TD)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Toronto Dominion Bank.