TD reports $4.04B Q1 profit, up from $2.79B a year earlier

A man walks past the TD Bank in the Bay Street Financial District in Toronto. (THE CANADIAN PRESS/Nathan Denette)

TD Bank Group reported a first-quarter profit of $4.04 billion, up from $2.79 billion a year earlier.

The bank said Thursday the profit amounted to $2.34 per diluted share for the quarter ended Jan. 31, up from $1.55 per diluted share last year.

Revenue totalled $16.59 billion, up from $14.05 billion.

TD’s provision for credit losses amounted to $1.04 billion, down from $1.21 billion a year ago.

On an adjusted basis, TD says it earned $2.44 per diluted share in its latest quarter, up from $2.02 per diluted share a year earlier.

The average analyst estimate had been for a profit of $2.26 per share, according to LSEG Data & Analytics.

TD chief executive Raymond Chun said the bank delivered strong first-quarter results, including record adjusted earnings.

“We achieved robust trading and fee income growth in our markets-driven businesses, volume growth in Canadian personal and commercial banking, and margin expansion,” Chun said in a statement.

TD said its Canadian personal and commercial banking business earned a record $2.04 billion, up from $1.83 billion a year earlier as it also saw record revenue, reflecting increased loan and deposit volumes.

TD’s U.S. banking operations earned $1.04 billion in the quarter, up from $342 million in the same quarter last year.

The bank’s wealth management and insurance business earned $757 million, up from $680 million a year earlier, helped by record assets, strong transaction revenue and insurance premiums growth.

TD’s wholesale banking operations, which includes its capital markets business, earned $561 million for the quarter, up from $299 million a year ago.

This report by The Canadian Press was first published Feb. 26, 2026.