The firm released its results for the third financial quarter, and reported a rise in earnings and total revenue.

Canadian-based TD Bank Group, which has a wealth management offering, reported earnings of C$3.1 billion ($2.4 billion) for the third quarter ending on July 31, which was up by 9 per cent on an adjusted basis, compared with the same quarter last year.

The firm’s total revenue also increased slightly from C$9.3 billion in Q3 2017 to C$9.9 billion in 2018. TD's Common Equity Tier 1 Capital ratio was 11.7 per cent for Q3 2018.

On December 22, 2017, the US government enacted tax legislation commonly referred to as the Tax Cuts and Jobs Act, which made changes to the US tax code. The bank recorded a one-time net charge to earnings for the three months ending on January 31, and the six months ending on April 30, of C$453 million. In the current quarter, the bank updated its estimate, resulting in a net C$61 million deferred income tax benefit.

"As we enter the final quarter of fiscal 2018, we are operating from a position of strength and are focused on accelerating investment in strategic initiatives," Bharat Masrani, group president and chief executive. "While we continue to see pockets of market uncertainty stemming from the geo-political climate, both the Canadian and US economies continue to perform well and support a positive outlook for our diversified businesses across the bank as we head into the final stretch of the year."

The bank is the latest in a line of Canada-listed financial groups, such as CIBC, Royal Bank of Canada and BMO, that have reported stronger results, including gains for their wealth management businesses.