TD Bank’s annual op loss tab surges 144% amid AML settlement
US plea deal drives bank’s op RWAs to record C$120 billion
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
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