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Canadian banks report better-than-expected profits amid COVID-19 pandemic
COVID-19 pandemic — even as TD was one of six Canadian banks that reduced its provisions for bad debt, citing better prospects for the economy.TD, CIBC, RBC, National Bank, BMO and Scotiabank all reported better-than-expected profits in the three months ending Jan. 31, as provisions for credit losses fell and net income climbed from the same period last year, before COVID-19 was declared a pandemic.