TD, Canada’s second-biggest bank, reported an increase in third-quarter profit, helped by growth in its USA retail and wholesale banking business.
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Canadian Imperial Bank of Commerce (CM.TO) revealed a profit for its third quarter that advanced from previous year.
Analysts had expected the company to earn $1.83 per share, according figures compiled by Thomson Reuters.
The fiscal third-quarter report of the Canadian Imperial Bank of Commerce saw its profit rising to 47 percent, heightened by a $383 million gain from selling off its minority stake in USA money manager, American Century Investments.
The bank said its earnings, excluding one-off items, rose to C$1.27 per share in the third quarter which ended on July 31 from C$1.20 a year earlier.
CIBC says that without the gains from the American Century Investments sale, its profit was up eight per cent to $1.07 billion from $990 million.
CIBC has been expanding in the United States to help offset slow growth in its domestic market and said in June it would buy Chicago-based PrivateBancorp in a $3.8 billion cash-and-share deal, its biggest ever acquisition.
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Excluding adjustments and one-time items, CIBC reported a nie per cent increase in earnings per share, to $2.67 per share.
