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NEWS: TD Bank beats estimates on Canada strength amid US anti-money laundering probe

By Nivedita Balu and Jaiveer Shekhawat

TD Bank TD.TO on Thursday reported better than expected quarterly earnings helped by strength in Canada and its wealth management unit, even as its U.S segment struggled amid probes related to its anti-money laundering program.

TD, Canada’s second largest bank, said net income at home rose 7%. This was helped by loan growth and newcomers opening accounts as it increased focus on the segment through a partnership with India’s HDFC bank to attract customers, such as students moving to the country.

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