Toronto-Dominion Bank and CIBC Q3 Earnings Surge

  • The bank’s third quarter financial reports beat analysts’ projections with increased capital markets earnings.
  • Canadian Imperial Bank of Commerce’s capital markets earnings surged 67% YoY to C$392 million with income from deal making fees and trading.
  • At TD Securities division, earnings shot up 81% YoY to C$442 million with income from trading and underwriting and advisory fees.
  • TD set aside C$2.19 billion in credit loss provision in the quarter while CIBC earmarked C$525 million.

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