UPDATE 1-Canada's TD Bank posts profit jump on strong interest income

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Toronto-Dominion Bank

TD

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- Toronto-Dominion Bank TD.TO reported a rise in second-quarter profit on Thursday, as a resilient Canadian economy helped drive a rise in the bank's interest income.

Canadian banks have largely maintained profitability despite trade tensions with the U.S. and broader geopolitical uncertainty, helped by a resilient economy and strength in fee-based businesses such as wealth management and capital markets.

Three of Canada's big six banks, BMO Financial BMO.TO, Bank of Nova Scotia BNS.TO and National Bank of Canada NA.TO, reported a quarterly profit that surpassed analysts' expectations on Wednesday.

TD's personal and commercial banking unit recorded a 15% jump in net income to C$1.93 billion ($1.39 billion). Its overall net interest income - the difference between what banks make on loans and pay out on deposits - jumped to C$8.86 billion in the quarter, from C$8.13 billion a year earlier.

It reported an adjusted net income of C$4.17 billion, or C$2.38 per share, compared with C$3.63 billion, or C$1.97 per share, a year earlier.

Its shares have risen about 20% so far this year, outperforming the broader TSX index.




($1 = 1.3865 Canadian dollars)