June 22, 2024
News

TD Auto Finance faces pressure on profits and credit performance

TD Auto Finance’s car loan portfolio expanded in the second quarter as improvements in credit performance put pressure on consumers. TD Auto’s outstanding loans reached $30.3 billion in Q2, a 1.3% increase from the previous quarter and an 11.8% increase from the previous year, as reported in the bank’s earnings supplement. The U.S. retail banking sector maintained its positive momentum with continued growth in operations.

FAQ

1. What were TD Auto Finance’s outstanding loans in Q2?

TD Auto Finance reported outstanding loans of $30.3 billion in the second quarter.

Conclusion

In conclusion, TD Auto Finance experienced growth in its auto loan portfolio in the second quarter, driven by improved credit performance despite increasing pressure on consumers. The U.S. retail banking sector also showed positive operational momentum during this period.

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