TD, RBC and CIBC top bank profit estimates as capital markets surge
TD reported adjusted earnings of C$2.77 per share, above analysts’ C$2.47 average, with wholesale banking net income up 87% and its U.S. segment net income rising 41%. The results reflect stronger deal flow, higher trading income from volatile markets, and a revival in IPO activity in the U.S. and Canada, with other major banks also beating forecasts.