Canada's TD Bank quarterly profit rises on interest income boost (updated)

Toronto-Dominion Bank

04/12/2025 11:41

Adds details throughout

Dec 4 (Reuters) - Toronto-Dominion Bank TD.TO reported a rise in fourth-quarter profit on Thursday, as the Canadian lender was helped by an increase in its income from interests.

Canadian banks grew cautious after U.S. President Donald Trump announced tariffs in April, but the country's biggest lenders have maintained stable interest margins, supported by a resilient economy.

Bank of Nova Scotia BNS.TO, which reported its fourth-quarter earnings on Tuesday, also said it was cautiously optimistic going into 2026 and bet on Canada's ambitious energy projects despite global macroeconomic uncertainties.

TD Bank's adjusted net interest income - the difference between what banks make on loans and pay out on deposits - was C$8.59 billion ($6.15 billion) in the reported quarter, compared with C$8.03 billion last year.

Shares of the lender have gained nearly 54% so far in 2025, as of last close.

The bank reported adjusted net income of C$3.91 billion, or C$2.18 per share, for the three months ended October 31, compared with C$3.21 billion, or C$1.72 per share, in the year-ago period.

($1 = 1.3971 Canadian dollars)

 (Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh Kuber)

 ((Pritam.Biswas@thomsonreuters.com;))