07:08 AM EDT, 05/23/2024 (MT Newswires) -- TD Bank Group (TD.TO, TD) was at last look on Thursday up more than 1% in US premarket trade as it kicked off the second-quarter earnings season for Canada's biggest banks with a beat in the fiscal second-quarter as the bank registered "solid momentum" across its franchise.

TD went in to today under increasing pressure to announce a shake-up in its leadership team as details emerge about its anti-money-laundering lapses that prompted a probe from US regulatory and law-enforcement agencies. The second quarter reported earnings figures included the following items of note, provision for investigations related to the Bank's AML program of $615 million ($615 million after-tax or $0.35 per share). The bank also noted civil matter provision/Litigation settlement of $274 million ($205 million after-tax or $0.11 per share) and FDIC special assessment of $103 million ($77 million after-tax or $0.04 per share).

Still, the bank reported fiscal second-quarter adjusted net income of $3.79 billion, or $2.04 per diluted share, up 2% from $3.71 billion, or $1.91 per diluted share, a year earlier. Analysts polled by Capital IQ expected $1.85.

Total revenue for the quarter ended April 30 was $13.82 billion, up from $12.40 billion a year earlier. Analysts surveyed by Capital IQ expected $12.37 billion.

Common Equity Tier 1 Capital ratio for fiscal Q2 was 13.4% versus 15.3% a year earlier.

Canadian Personal and Commercial Banking net income was $1.74 billion, up 7% from the year-ago quarter. The increase reflects revenue growth, partially offset by higher provisions for credit losses and non-interest expenses.

Wealth Management and Insurance net income was $621 million, up 19% from the second quarter last year, as positive top-line momentum was partially offset by higher insurance service expenses. This quarter's revenue growth of 11% reflects insurance premium growth and higher fee-based and transaction revenue in the Wealth Management business.

The Toronto-Dominion Bank ( MLWIQXX ) maintained its dividend of $1.02 per fully paid common share for the quarter ending July 31, payable by July 31 to shareholders of record at the close of business on July 10.