Investing.com -- Toronto Dominion Bank (TSX: TD) (NYSE: TD) reported third-quarter adjusted diluted earnings per share of C$2.77, up from C$2.20 a year earlier, with adjusted net income rising to C$4.67 billion from C$3.87 billion. Total revenue climbed to C$16.92 billion from C$16.03 billion.

Provision for credit losses fell to C$917 million from C$1 billion a year earlier. Adjusted return on equity improved to 16% from 14.4%, while adjusted return on tangible common equity rose to 19.1% from 17.2%.

TD shares rose 1.4% in U.S. premarket trading by 06:49 ET (10:49 GMT).

"TD had a very strong quarter, with record earnings in our Canadian businesses and Wholesale Banking, and growing momentum in U.S. Banking," said Raymond Chun, Group President and CEO of TD Bank Group.

"With a focus on disciplined execution, ROE was up significantly and we generated positive operating leverage while continuing to invest in front-line talent, AI and innovation to deepen client relationships and grow the Bank. One year after Investor Day, we are delivering on our commitments, executing our strategy and creating value for our shareholders."

By segment, Canadian Personal and Commercial Banking net income rose 7% year-over-year to C$2.10 billion, driven by higher pre-tax, pre-provision earnings, with revenue up 5% to C$5.52 billion on deposit and loan volume growth and higher margins. U.S. Banking net income rose 12% year-over-year on an adjusted basis to C$1.07 billion (US$771 million), with return on equity climbing to 10.2%.

Wealth Management and Insurance net income rose 20% to C$841 million, driven by record assets, higher insurance premiums and deposit volume growth. Wholesale Banking net income rose 76% on an adjusted basis to C$743 million, reflecting higher revenue and lower credit loss provisions, partly offset by higher non-interest expenses.