The Daily Chase: TD Bank beats earnings expectations; TSX climbs
BNN Bloomberg
TD Bank is closing out this round of big bank earnings with a beat at $2.23 earnings per share, against an estimate of $2.20.
CWB ALSO TOPS ESTIMATES
Sticking with the banks, we’ve got another beat, this time out of Canadian Western Bank. Adjusted EPS came in at $1.02 against an estimate of $0.91, and the company is reporting gross impaired loans are getting back to more normalized levels than last year. CWB figures provisions for credit losses are getting back its historical range, a boost to the lender overall. The bank is a pretty interesting firm – in spite of its name, it’s been diversifying into central Canada – Ontario now accounts for a full 25 per cent of loans.
TSX BUCKS THE TREND, POSTS GAINS
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