New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 18, 2013
13:08 EDTHBC, TDHSBC to sell Canadian private label credit card portfolio to Toronto-Dominion
HSBC Retail Services, an indirect wholly-owned subsidiary of HSBC (HBC), has entered into an agreement to sell its consumer private label credit card portfolio to TD Financing Services, a wholly-owned subsidiary of The Toronto-Dominion Bank (TD). The gross value of the portfolio was approximately C$495M at February 28. This agreement accelerates the wind down of the Canadian consumer finance business originally announced by HSBC on March 21. The sale is expected to be completed in Q3.
News For HBC;TD From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 27, 2015
06:34 EDTTDTD Bank reports Q3 adjusted EPS C$1.20, C$1.18
Reports Q3 revenue C$8.01B, consensus C$7.36B. Canadian Retail delivered net income of $1.6 billion, an increase of 11% over the third quarter last year on a reported basis, and 8% over the third quarter last year on an adjusted basis. Earnings were primarily driven by good loan, deposit, and wealth asset volume growth and very strong insurance earnings. U.S. Retail reported net income for the third quarter was US$543 million and adjusted net income was US$524 million. Excluding the Bank's investment in TD Ameritrade, the segment generated adjusted net income of US$450 million, in line with the third quarter last year. The results reflect strong loan and deposit growth, and disciplined expense management, partially offset by lower margins and normalizing credit losses. TD's Common Equity Tier 1 Capital ratio on a Basel III fully phased-in basis was 10.1%, compared with 9.9% last quarter.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use