TD Bank Group Reports $2.96B Q3 Profit, Down From $3.21B Year Ago

 TD Bank Group reported its third-quarter profit fell compared with a year ago as its provisions for credit losses rose.The bank says its net income totalled $2.96 billion or $1.57 per diluted share for the quarter ended July 31, down from $3.21 billion or $1.75 per diluted share a year earlier.Revenue totalled $12.78 billion, up from $10.93 billion in the same quarter last year.Provisions for credit losses amounted to $766 million, up from $351 million a year earlier.On an adjusted basis, TD says it earned $1.99 per diluted share in its latest quarter, down from $2.09 per diluted share in the same quarter last year.The average analyst estimate had been for a profit of $2.04 per diluted share, based on estimates compiled by financial markets data firm Refinitiv.This report by The Canadian Press was first published Aug. 24, 202