TD Profits

TD Bank Financial Group’s fourth-quarter earnings rose to $762 million on strong growth in its domestic banking business.

TD made $1.04 a share in the quarter, the bank said Friday. In the same quarter last year, it made $589 million, or 82 cents a share.

The bank’s adjusted earnings, which factor out one-time items, came in at $1.20 per share. According to Thomson Financial, analysts had a consensus profit forecast of $1.19 a share, before one-time items.

The bank said earnings at TD Canada Trust were up 13 per cent year over year to $501 million on strong volumes and growth in real estate lending, and personal and business deposits.

Earnings at TD’s wealth management unit, which includes the bank’s equity share in TD Ameritrade, were $148 million, up nine per cent from the fourth quarter of 2005.

For the full year, the bank made $4.6 billion, or $6.34 a share. In 2005, TD made $2.23 billion, or $3.20 a share.

(CBC)

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I worked for this bank for 27 yrs and a whole slew of us lost our jobs because they closed our administration office and moved it to amalgamate with another. That’s one way to make more profits. 😉 We had a choice to move to the London office (from Barrie) and a few did that, but most of us took the package that was offered.

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1 Comment »

  1. The same thing happens here, Paula. The Banks, powerful tools in the hands of the mighty, are exemplary in how to make money.

    And mind you, the more poverty there is the more they earn.

    Nothing to do with the disabled, of course.

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