TD Bank Financial Performance and Strategy Update
Q1 2017 Highlights
Total Bank Reported Results (YoY)
EPS up 13%
Adjusted EPS up 13%¹
Revenue up 6%
Adjusted revenue excluding M&A and FX up 7%²
Expenses up 5%
Adjusted expenses excluding M&A and FX up 7%2
Segment Reported Results (YoY)
Canadian Retail earnings up 4%
U.S. Retail earnings up 7%
Wholesale earnings up 66%
Financial Highlights $MM
TD
Reported
Revenue
Q1/17
Q4/16
Q1/16
9,120
8,745
8,610
PCL
633
548
642
Expenses
4,897
4,848
4,653
Net Income
2,533
2,303
2,223
Diluted EPS ($)
1.32
1.20
1.17
Adjusted¹
Q1/17
Q4/16
Q1/16
Net Income
2,558
2,347
2,247
Diluted EPS ($)
1.33
1.22
1.18
Segment Earnings $MM
Q1/17
Retail³
Canadian Retail
U.S. Retail
Wholesale
Corporate
Reported
Adjusted
2,366
2,366
1,566
1,566
800
800
267
267
(100)
(75)
1. See slide 6, footnote 1, for definition of adjusted results. Items of note: Q1 2017 - Amortization of intangibles of $59 million after tax (3 cents per share) and a gain of $34 million after tax (2 cents per share) due to
the change in fair value of derivatives hedging the reclassified available-for-sale securities portfolio; Q4 2016 - Amortization of intangibles of $60 million after tax (3 cents per share) and a gain of $16 million after
tax (1 cent per share) due to the change in fair value of derivatives hedging the reclassified available-for-sale securities portfolio; Q1 2016 - Amortization of intangibles of $65 million after tax (3 cents per share)
and a gain of $41 million after tax (2 cents per share) due to the change in fair value of derivatives hedging the reclassified available-for-sale securities portfolio.
2. Adjusted revenues were $9,079MM and $8,564MM in Q1 2017 and Q1 2016, respectively. Adjusted expenses were $4,833MM and $4,579MM in Q1 2017 and Q1 2016, respectively.
3. See slide 4, footnote 3, for definition of Retail.
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