Canadian lender TD Bank has reported net income of C$2.30bn for the fourth quarter of 2016, up 25.2% compared to C$1.84bn in the prior-year quarter.

For the quarter ended 31 October 2016, total revenue increased 8.6% to C$8.74bn from C$8.04bn the year ago.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The banking group’s common equity tier 1 capital ratio on a Basel III fully phased-in basis stood at 10.4%

The bank’s Canadian retail business posted net income of C$1.50bn for the fourth quarter of 2016, compared to C$1.49bn in the corresponding quarter of 2015. The division’s revenue grew 3% from the year earlier.

The US retail arm of the bank recorded net income of C$701m for the fourth quarter of 2016, from C$595m on a reported basis and C$646m on an adjusted basis in the fourth quarter of 2015.

The US Retail Bank, which excludes the bank's investment in TD Ameritrade, generated net income of C$608m, a 25% surge on a reported basis and 13% on an adjusted basis compared to the previous year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

TD Ameritrade contributed C$93m in earnings to the division compared with C$109m the year ago.

TD Bank group president and CEO Bharat Masrani said: "We are pleased with our performance this quarter and overall earnings growth in 2016.

"Our results this year demonstrate the strength of our diverse business mix, organic growth strategy and the investments we've made to become a more productive and customer-focused organization."