TD Bank Group reports $1.58B first-quarter profit, down from year ago

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Jun 17, 2007
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TORONTO — TD Bank Group reported a first-quarter profit of $1.58 billion, down from $3.73 billion a year earlier, as it took a number of one-time charges including the cost to settle a lawsuit related to the Stanford Financial Group Ponzi scheme. The bank says the profit amounted to 82 cents per diluted share for the quarter ended Jan. 31, down from $2.02 per diluted share in the same quarter last year. Revenue totalled $12.23 billion, up from $11.28 billion a year earlier. Provisions for credit
 
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