TD Bank swings to quarterly loss on $2.6 bln provision tied to US probe-February 2024-www.financetom.com

TD Bank swings to quarterly loss on $2.6 bln provision tied to US probe

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TD Bank swings to quarterly loss on $2.6 bln provision tied to US probe

Aug 22, 2024 6:16 AM

Aug 22 (Reuters) - TD Bank swung to a quarterly

loss on Thursday as the second-largest Canadian lender set aside

C$3.57 billion ($2.63 billion) for fines related to U.S.

regulatory probes into its anti-money laundering (AML) program.

Net loss was C$181 million, or 14 Canadian cents per share,

in the three months ended July 31, compared with a profit of

C$2.88 billion, or C$1.53 per share, a year earlier.

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