January 14, 2025 (NO COMMENTS)

The bill from operational failures at TD Bank surged 144% in the bank’s latest financial year, marking a domestic high that will weigh on the bank’s capital requirements for years to come.

Canada’s second-largest dealer reported losses totalling nearly C$5 billion ($3.5 billion) over the 12 months to October 31, 2024 – the highest among the ‘big five’ banks since at least 2014.

The tally, arising from 1,703 loss events, are primarily due to a punitive resolution of an anti-money laundering probe