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4w ago

TD Bank Reports $11.1B Q2 Profit, Bolstered by Schwab Stake Sale

The bank's results reflect a significant one-time gain, rising credit-loss provisions, and record wholesale banking revenue under new CEO Raymond Chun.

A person makes their way past a Toronto-Dominion Bank in the Financial District of Toronto, Monday, Aug. 14, 2023. THE CANADIAN PRESS/Spencer Colby
The Toronto-Dominion (TD) bank logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File Photo

Overview

  • TD Bank posted a $11.1 billion profit for Q2 2025, driven by an $8.6 billion after-tax gain from the sale of its remaining Charles Schwab stake.
  • Adjusted net income dropped to C$3.63 billion (C$1.97 per share) from C$3.79 billion (C$2.04 per share) a year earlier, reflecting higher credit-loss provisions.
  • Provisions for credit losses rose to C$1.34 billion, up from C$1.07 billion last year, as economic uncertainty impacts loan quality.
  • The wholesale banking division achieved record revenue of C$2.13 billion, a 10% increase year-over-year, supported by robust trading and fee income.
  • CEO Raymond Chun, who took over in February, continues to lead a strategic review aimed at simplifying operations and strengthening compliance following past regulatory challenges.