TD Bank's Q2 results show decrease in adjusted net income, but stock rose on restructuring plan

From Zacks Investment Research: 2025-05-26 12:52:00

Toronto-Dominion Bank (TD) shares rose 4.5% on the NYSE after unveiling a restructuring program to boost efficiency. Second-quarter fiscal 2025 results showed a 4.3% decrease in adjusted net income to C$3.6 billion. Despite higher provisions for credit losses and expenses, NII and non-interest income grew positively.

Adjusted revenues increased 9% year over year to C$15.1 billion. NII rose 8.8%, and non-interest income jumped 133.1%. Adjusted non-interest expenses rose 11.6%. TD reported a provision for credit losses of C$1.34 billion, up 25.2% from the prior year.

Total assets declined 1.4% to C$2.06 trillion. Net loans dropped 3% to C$936.4 billion. The restructuring plan includes a reduction of 2% of its workforce, expecting pre-tax savings of C$100 million in fiscal 2025.

HSBC Holdings reported a 25% decline in pre-tax profit, while Deutsche Bank saw a 39.2% increase in earnings attributable to shareholders for the first quarter of 2025.



Read more at Zacks Investment Research: TD’s High Costs Hurt Q2 Results, Restructuring Plan Revealed, Stock Up – May 26, 2025