Toronto-Dominion Bank

[Mithrandir77]

TD Bank earnings beat estimates on strength in capital markets unit

 

Zitat

Toronto-Dominion Bank beat analysts’ estimates on an increase in revenue driven by strength in both its capital markets unit and growth in loans and deposits in the lender’s domestic retail business.

The lender earned $2 a share on an adjusted basis in the fiscal first quarter, it said in a statement Thursday, ahead of the $1.94 average estimate of analysts in a Bloomberg survey. It reported total revenue of $13.7 billion for the three months through January, beating forecasts of $12.2 billion.

Toronto-Dominion, which acquired U.S. investment bank Cowen Inc. last March, joined rival Royal Bank of Canada in getting a boost from capital markets. Earlier this week, Royal Bank also reported results that beat analysts’ estimates as stronger-than-expected performance from capital markets and wealth management countered an increase in loan-loss provisions and higher expenses.

At Toronto-Dominion, provisions for credit losses totaled $1 billion, more than the $944.1 million analysts had forecast.

The Canadian lender recorded a charge of $411 million before taxes tied to a special assessment by the U.S. Federal Deposit Insurance Corp. related to bank failures. Royal Bank, Canadian Imperial Bank of Commerce and Bank of Montreal recorded similar charges for the quarter.

 

[Wuppi]

Am 29.2.2024 um 13:26 von Mithrandir77:

TD Bank earnings beat estimates on strength in capital markets unit

 

 

Hast du eine Ahnung bzw Idee. wieso der Kurs im Vergleich zu den anderen Kanadischen Banken so vor sich hin dümpelt. Meinst du das liegt an dem größeren US Exposure?

[Mithrandir77]

vor 12 Stunden von Wuppi:

Hast du eine Ahnung bzw Idee. wieso der Kurs im Vergleich zu den anderen Kanadischen Banken so vor sich hin dümpelt. Meinst du das liegt an dem größeren US Exposure?

Die letzte Übernahme in den USA wurde gestoppt. Wäre meiner Meinung nach für den Markt dort gut gewesen. Aktuell sind ja nunmal die Regionalbanken das Problem und nicht die Großbanken.

Der Kurs wird sicher von der Unsicherheit über das Geldwäsche Thema dort belastet.

 

Zitat

TD Bank Group has identified where its deficiencies in anti-money laundering oversight are and is working to address them, said chief executive Bharat Masrani.

“This is a priority for the bank, and we take our responsibility seriously to live up to our high standards. We will continue to mobilize the required resources to strengthen our capabilities,” he said on a first-quarter earnings conference call Thursday.

The bank is accelerating investments in its risk and control environment and has hired hundreds of colleagues in these areas over the past two quarters, said Masrani.

“In short, we know what the [anti-money laundering] issue is, and we are making progress in fixing it every day. I look forward to providing further updates as soon as I can.”

The bank disclosed last August that it expects U.S. regulators to impose penalties related to the bank’s anti-money laundering compliance program. It said at the time that it was co-operating with investigators, including from the U.S. Department of Justice.

TD fast-tracking efforts to fix anti-money laundering deficiencies: CEO

 

für mich sieht das eher politisch motiviert aus…das Problem hat doch mehr oder weniger jede Bank weltweit

Immerhin ein Vorteil die Mittel für die Übernahme hat TD als Sicherheitspuffer 

[Mithrandir77]

TD Bank third-quarter profit rises on lower loan loss provision

 

Zitat

TD Bank reported a rise in third-quarter profit on Thursday, as the Canadian lender built lower cash reserves to cover potential customer defaults on loans.

While Canada is yet to achieve a trade deal with the United States, the outlook has improved considerably from early April, when U.S. President Donald Trump’s tariffs sparked fears of a trade war across North America.

Canadian banks had built higher provisions fearing a macroeconomic slowdown, anticipating defaults on commercial loans, credit cards, and mortgages.

TD’s provision for credit losses was $971 million (US$702.76 million) in the reported period, down from $1.34 billion in the previous quarter. The lender had set aside $1.07 billion for rainy day funds last year.

TD’s shares have rallied over 37 per cent so far this year, as of last close, eclipsing double-digit rallies by the rest of the big six Canadian banks.

The rally in TD’s shares follows a tumultuous 2024 - when it agreed to pay over $3 billion in penalties to U.S. regulators for money laundering charges - ending the year down 10.6 per cent.

The penalty also sparked a broader makeover to comply with the U.S. government-ordered anti-money laundering remediation program. In July, the bank named independent director John MacIntyre as the new chair of its board.

Earlier this week, peers Bank of Montreal, Bank of Nova Scotia, and Royal Bank of Canada beat third-quarter earnings estimates on smaller-than-expected loan loss provisions.

On an adjusted basis, the second largest Canadian bank reported a profit ofC$3.87 billion, or $2.20 per share, for the quarter ended July 31, compared with $3.65 billion, or $2.05 per share, a year earlier.

 

[Wuppi]

So, und jetzt erklär mir mal einer wieso der gestrige Abverkauf?

 

Ich fand die Zahlen eigentlich sehr passabel und war positiv gestimmt, dass es bei TD endlich wieder bergauf geht. Alle anderen kanadischen Banken laufen seit 2 Jahren deutlich besser (nicht zuletzt aufgrund des Geldwäsche-Skandals und der damit einhergehenden Beschränkung von TD)