(Reuters) -Canada’s TD Bank (TD) said a drop in the benefit of the first quarter on Thursday while his American company is struggling with the fallout from the failures of the compliance of money laundering.
Since 13:35:29 pm hne. Market open.
Last year, TD became the largest bank in the history of the United States to plead guilty to money laundering in the country and agreed to pay a fine of $ 3 billion.
2025 should be a year of transition for TD because it focuses on the restructuring of its assessment to comply with the American active ceiling and operates on the resolution of its compliance problems.
The benefit of retail activities in the United States of TD dropped by 61% to 342 million Canadian dollars (238.59 million dollars) during the quarter compared to the previous year.
The bank’s net profit fell to $ 2.79 billion Canadian dollars ($ 1.95 billion) during the three months closed on January 31, compared to $ 2.82 billion CA a year earlier.
Shared, TD won $ 1.55 CA during the quarter, as last year.
The TD offer for credit loss increased to $ 1.21 billion Canadian in the quarter, compared to $ 1 billion Canadian a year earlier.
(Report by Arasu Kannagi Basil in Bengaluru; edition by Tasim Zahid and Shreya Biswas)