March 2 – Toronto-Dominion Bank’s (TD.TO) quarterly profit beat estimates on Thursday, as robust growth in personal loans in Canada and the United States overshadowed weakness in its wealth management and insurance unit.
The results from Canada’s second-largest bank round up a mixed quarter for lenders in the country, as they received a boost from the Bank of Canada’s interest rate hikes but had to raise provisions for potential bad loans.
Earlier this week, data showed the Canadian economy had unexpectedly stalled in the final three months of 2022, bolstering the central bank’s case to hold off on further rate hikes if prices eased as expected.