Royal Bank of Canada and Toronto-Dominion Bank topped second-quarter estimates on the back of low loan-loss provisions and stronger retail lending and wealth management income, spurring shares of Canada's top two banks to all-time highs on Thursday.Profit at RBC and TD's core domestic retail banks rose 7 percent and 13 percent, respectively, in spite of slowing growth in mortgage lending over the past few years."Despite calls on my end for a slowdown in personal and commercial banking, they just keep finding ways to deliver some pretty attractive results," said Tom Lewandowski, an analyst at Edward Jones in St. Louis.At TD, acquisitions of assets such as the Aeroplan credit card portfolio helped make up for 4 percent growth in secured real estate lending.
Royal Bank of Canada is a Canada-based banking company. Shares of RY traded higher by 2.21% or $1.5/share to $69.50. In the past year, the shares have traded as low as $55.49 and as high as $68.89. On average, 369989 shares of RY exchange hands on a given day and today's volume is recorded at 301579.
Royal Bank of Canada is a Canada-based banking company. Shares of RY traded higher by 2.02% or $1.5/share to $75.79. In the past year, the shares have traded as low as $58.55 and as high as $74.29. On average, 1740990 shares of RY.TO exchange hands on a given day and today's volume is recorded at 1928356.
The Toronto-Dominion Bank is a Canada-based bank, offering a range of financial products and services through TD Canada Trust, TD Bank, TD commercial Bank, TD commercial Banking and TD Auto finance. Shares of TD traded higher by 2.59% or $1.23/share to $48.76. In the past year, the shares have traded as low as $38.22 and as high as $48.34. On average, 691998 shares of TD exchange hands on a given day and today's volume is recorded at 383342.
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