#TD Bank Group Q4 FY2024 #EarningsReport Summary (in CAD) | $TD (+0,26%)

TD Bank Group faced macroeconomic and operational challenges in Q4 FY2024, including elevated expenses for regulatory compliance and integration costs. Despite these hurdles, the Bank demonstrated resilience with record revenue growth in Canadian banking and significant balance sheet expansion.

📊Income Statement Highlights (vs. Q4 FY2023):

▫️Net Income: $3.64B vs. $2.87B (+26.79%)

▫️Adjusted Net Income: $3.20B vs. $3.49B (-8.07%)

▫️Total Revenue: $15.51B vs. $13.18B (+17.71%)

▫️Adjusted EPS: $1.72 vs. $1.82 (-5.49%)

▫️Reported EPS: $1.97 vs. $1.48 (+33.11%)

▫️Gross Margin (Canada): 41.5% vs. 42.9%

▫️Provision for Credit Losses: $1.11B vs. $878M (+26.44%)

Key Segments:

Canadian Personal & Commercial Banking:

▫️Record revenue of $5.06B (+7%).

▫️Net Income: $1.82B (+9%).

▫️Loan volumes grew by 5%, and deposit volumes by 5%.

US Retail (in USD):

▫️Reported Net Income: $634M (-32%).

▫️Adjusted Net Income: $803M (-14%).

Wealth Management & Insurance:

▫️Net Income: $349M (-29%).

📄Balance Sheet Highlights (vs. Q4 FY2023):

▫️Total Assets: $2.06T (+5.46%)

▫️Total Equity: $115.20B (+2.68%)

▫️Deposits: $1.27T (+5.88%)

▫️Loans (Net): $949.50B (+6.00%)

▫️Common Equity Tier 1 (CET1) Capital Ratio: 13.1% (vs. 14.4%)

🔮Future Outlook:

For FY2025, TD Bank anticipates constrained earnings growth due to continued investments in AML remediation and regulatory compliance. The Bank has suspended its medium-term financial targets but remains focused on strengthening operations and refreshing its strategy.