Toronto-Dominion Has Record U.S. Quarter on Ameritrade Boost

Toronto-Dominion Bank posted a record quarter in the U.S., thanks to Americans who took out more loans and turned to the discount broker services of a bulked-up TD Ameritrade. The Canadian lender reaped C$225 million ($174 million) from its investment in the U.S. brokerage, which along with tax cuts and loan growth helped drive record profit of C$1.14 billion at its U.S. retail division, the Toronto-based bank said Thursday as it posted earnings that topped analysts’ estimates. “While TD came in ahead of expectations, it really was the strong contributions it received from TD Ameritrade that helped bolster earnings," Barclays Plc analyst John Aiken wrote in a note to clients.