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[$$] Toronto-Dominion Bank’s Profit Rises Despite Expense Growth

Toronto-Dominion Bank’s first-quarter profit rose more than 2% from a year earlier, helped by its investment in TD Ameritrade and a much smaller provision for income tax. At the same time, noninterest expenses—the provision for credit losses and insurances claims and related expenses—increased by at least 20% each. The bank recorded higher expenses after closing deals to buy a loyalty program from Air Canada and Greystone Capital Management.