09:48 AM EST - TD Bank Financial Group : announced its financial results for the third quarter ended July 31, 2010. Overall results for the quarter reflected very strong retail earnings growth. Total adjusted retail earnings hit a new high of $1.3 billion, up 21% from last year. Canadian Personal and Commercial Banking posted earnings of $841 million in the third quarter, up 24% from the same period last year. Revenue grew 8% while PCL declined by 19%. TD Canada Trust reported strong volume growth across most banking products; in particular, real estate secured lending and business deposits. Global Wealth net income, which excludes the bank’s reported investment in TD Ameritrade, was $117 million in the quarter, up 23% from the same period last year, largely driven by fee revenue from higher client assets and improved net interest margin. TD Ameritrade contributed $62 million in earnings to the segment, down 9% from the same period last year, due to the impact of a stronger Canadian dollar which was partially offset by higher earnings. TD Bank Financial Group
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