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TD Bank tops earnings estimates despite U.S. anti-money laundering probe

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TD Bank News

Bank Earnings,Td Stock,Economy

TD Bank on Thursday kicked off big bank earnings, reporting better than expected quarterly earnings helped by strength in Canada and its wealth management unit.

TD Bank Group says it’s setting aside US$450 million related to an ongoing U.S. regulatory inquiry into its anti-money laundering compliance. Anne Gaviola has this story and more in Business Matters for Wednesday, May 1 – May 1, 2024on Thursday reported better than expected quarterly earnings helped by strength in Canada and its wealth management unit, even as its U.S segment struggled amid probes related to its anti-money laundering program.

South of the border, the lender is facing a U.S. Department of Justice probe over its ties to a $653 million drug money-laundering case in New York and New Jersey related to illegal drug sales.

 

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