TD’s (TD) Record Quarter Comes With A Regulatory Asterisk

Toronto-Dominion Bank delivered strong third-quarter results on August 27, with adjusted net income reaching $4.7 billion, representing a 21% increase from the prior year. Adjusted diluted earnings per share rose 26% to $2.77, while return on equity climbed to 16.0%, up 280 basis points year over year. All four major business segments—Canadian banking, US banking, wealth management, and wholesale—posted earnings growth simultaneously, a rare occurrence for a financial institution of