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TORONTO — Toronto-Dominion Bank, Canada’s second-biggest lender, reported third-quarter earnings that were ahead of market expectations on Thursday, helped by growth in its U.S. retail and wholesale banking business.

The bank said its earnings, excluding one-off items, rose to $1.27 per share in the third quarter which ended on July 31 from $1.20 a year earlier. Analysts on average had expected earnings of $1.21, according to Thomson Reuters I/B/E/S.

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Rivals Royal Bank of Canada and Bank of Montreal also reported results that beat market forecasts this week.

TD said net income, excluding one-off items, rose to $2.42 billion ($1.87 billion) from $2.29 billion a year earlier.

Net income at TD’s U.S. retail bank rose to $788 million from $650 million. Wholesale Banking net income was $302 million, up 26 per cent from the third quarter last year.