Money: TD Bank reports higher Q2 profit on retail growth and wholesale banking rebound - - PressFrom - Canada
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MoneyTD Bank reports higher Q2 profit on retail growth and wholesale banking rebound

23:30  23 may  2019
23:30  23 may  2019 Source:   msn.com

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“ Retail banking is typical mass-market banking where individual. customers use local branches of larger high NPA risk, treasure profits are now loosing importance hence Retail Banking is now an alternative Nowadays, European savings banks have kept their focus on retail banking : payments

TD Bank reports higher Q2 profit on retail growth and wholesale banking rebound© Provided by Canadian Press Enterprises Inc

TORONTO — Strong growth in Canadian and American retail operations helped TD Bank Group earn an adjusted profit of $3.27 billion in the second quarter, up from $3.06 billion in the same quarter last year.

The Toronto-based lender also benefited from positive earnings at its wholesale banking business — following a net loss in the first quarter — as it reported better-than-expected earnings in the three months ended April 30.

"As I reflect on the first half of the year, I am pleased with our performance. It reflects continued momentum in our franchise businesses, good credit quality and better conditions this quarter for market-based revenues," said CEO Bharat Masrani on a conference call with analysts.

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Retail banking requires large network of branches in order to cater to large customer base and hence it results in high operational costs while in case of As one can see from the above that retail and wholesale banking are very different from each other and that is the reason why many banks have

Royal Bank of Canada saw a big bump in profits last quarter, propelled by loan growth and higher interest rates at its "Canadian banking was softer, impacted by higher provisions," said Canaccord Genuity analyst TD Bank reports higher Q 2 profit on retail growth and wholesale banking

"Looking ahead, the macro environment remains fluid. Trade and geopolitical tensions are heating up and economic conditions remain mixed with several output indicators still soft while employment growth remains strong."

He reiterated his expectation that the bank will post earnings-per-share growth this year at the low end of its seven-to-10 per cent medium-term target range.

On an adjusted basis, TD said it earned $1.75 per share in the quarter, up from $1.62 per share in its second quarter last year.

Analysts on average had expected a profit of $1.67 per share, according to Thomson Reuters Eikon.

"TD produced the first meaningful beat against expectations in the quarter as it enjoyed strong loan growth in both of its retail platforms and an impressive bounce back in capital markets earnings," wrote analyst John Aiken of Barclays in a report.

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The Role of Retail Banking in the U.S. Banking Industry: Risk, Return, and Industry Structure By Clark, Timothy Dick, Astrid Hirtle, Beverly Stiroh, Kevin J. Williams TD Bank Reports Higher Q 2 Profit on Retail Growth and Wholesale Banking Rebound By The Canadian Press, May 23, 2019.

In Wholesale Banking , customer activity is strong and customer satisfaction is high Sierra Pacific serves the retail , wholesale and correspondent mortgage banking markets in 48 states Wells Fargo & Co reported higher quarterly profit on Tuesday despite flat revenue as the bank benefited from

TD reported its U.S. retail business earned $1.26 billion, up from $979 million, as revenue rose by six per cent and expenses were slightly lower. TD Ameritrade contributed $258 million, up from $134 million a year earlier.

Its Canadian retail business earned $1.85 billion, up from $1.83 billion a year ago, on an eight per cent increase in revenue, offset by a $30-million charge related to its purchase in November of Saskatchewan-based Greystone Managed Investments and other higher expenses.

Profit at its wholesale banking business was $221 million, down from $267 million a year ago, but up compared with a net loss of $17 million in the previous quarter, on lower expenses and revenue that matched the second quarter 2018 number.

TD recorded a provision for credit losses of $633 million in the second quarter, an increase of $77 million, or 14 per cent, compared with the second quarter last year, but down by $217 million, or 26 per cent, compared with the prior quarter.

Companies in this story: (TSX:TD)

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