Toronto-Dominion Profit Tops Estimates on Canadian Recovery
- Housing strength in Canada, consumer spending boost lending
- U.S. business loans slip as government support damps demand
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Toronto-Dominion Bank’s Canadian operation is getting a boost from a rebound in consumer spending and the continued strength of the country’s housing market.
Profit in the Canadian retail business rose 19% to C$2.14 billion ($1.7 billion) in the fiscal fourth quarter, the Toronto-based bank said Thursday in a statement. Overall profit topped analysts’ estimates.