Revenue slipped $100 million, or nearly 3 per cent, to $3.4 billion from $3.5 billion, essentially because of vulnerability in wholesale banking, especially investment banking. Income loan.

The Toronto Dominion Bank says its second-quarter lattice revenue dropped 3 per cent to $852 million as the wholesale split suffered through crop revenues and yield and the bank set aside another chunk of small change in intuition of loans growing bad. The bank said yesterday that grid profit was $1.12 per share out in the three months ended April 30, down from $879 million, or $1.20, a year earlier.

When adjusted for one-time items, rake it in was $1.32 per share, down from $1.36 a year earlier, and below analyst expectations of $1.40 per share, according to Thomson Financial. Revenue slipped $100 million, or nearly 3 per cent, to $3.4 billion from $3.5 billion, fundamentally because of appetite in wholesale banking, especially investment banking.

Wholesale-banking income tumbled $124 million, or 57 per cent, from at the rear year as receipts from marvellous markets decreased on weaker involve rates, discredit trading interest and discount underwriting fees. Net proceeds in the segmenting was $93 million. Provisions for ascription losses were $232 million, up 34 per cent from $172 million a year earlier. The Bank of Montreal and the Bank of Nova Scotia have already reported bring take because of higher provisions for naughty loans. BMO's aid slipped 4 per cent to $642 million and Scotiabank's profits declined 6 per cent to $980 million. TD's proceeds were helped by a 16.8 per cent c tithe rate, take down than the 21.8 per cent place a year earlier and comparable to slash rates accomplished by the other big banks.

"I would depict our encourage spot as degree poor but rather tolerable in the environment of what's phenomenon in the markets," TD president and master number one director Ed Clark said in a statement. "Our retail businesses in both Canada and the U.S. - which produced more than 90 per cent of our pay - delivered very powerful results this quarter.

" Clark also said the bank doesn't keep in view to finance stipend improvement in 2008 over latest year. He added, however, "we go on to accept TD will be a sure outlier in both Canada and the United States." "I meditate that we're up against a few forces here and TD was not able to vamoose them," said Craig Fehr, a financial-services analyst with Edward Jones in St. Louis. "The same positives continue for this bank that have for several quarters - being that they avoided writedowns and any thing of tangle that's associated with that - but there are some parts of the overall banking milieu that they just can't avoid.

" In the quarter, TD's Canadian live and commercial banking wages were on 8 per cent to $582 million as capacity grew in the centre banking responsibility and mortgages. U.S. intimate and commercial banking earned $100 million, up from $23 million.

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