(Reuters) – Canada’s TD Bank posted a surge in fourth-quarter profit on Thursday as gains from higher interest rates boosted its personal and commercial business and helped offset weakness in underwriting and capital markets.
Net income, excluding one-off items, rose to C$4.07 billion, or C$2.18 per share, for the three months ended Oct. 31, from C$3.87 billion, or C$2.09 per share, a year earlier. Analysts had expected C$2.09 a share, according to Refinitiv data.
Canada’s second-largest lender reported overall net profit of C$6.67 billion, or C$3.62 per share, from C$3.78 billion, or C$2.04 per share, a year earlier.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Sriraj Kalluvila)