Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016.
REUTERS/Chris Wattie/File Photo Acquire Licensing RightsAug 24 (Reuters) - Toronto-Dominion Bank (TD.TO) on Thursday reported a drop in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover losses from borrowers who might fall behind on loan payments.
The bank reported adjusted net income of C$3.73 billion ($2.76 billion), or C$1.99 per share, in the three months ended July 31, compared with C$3.81 billion, or C$2.09 apiece, a year earlier.
($1 = 1.3538 Canadian dollars)Reporting by Pritam Biswas in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.
Persons:
Chris Wattie, Pritam Biswas, Shweta Agarwal
Organizations:
Dominion Bank, REUTERS, Thomson
Locations:
Toronto, Ottawa , Ontario, Canada, Bengaluru