Toronto-Dominion Bank Financial Group has reported net income from its wealth management activities of C$144 million ($133 million) for the quarter ended 31 January. This was down 5 per cent from C$152 million from a year before, and 8 per cent from $156 million in the preceding quarter.

However, net income at the bank’s Global Wealth business – which excludes TD Ameritrade – was $101 million, up 35 per cent year-over-year.

Assets under management were C$172 billion as at end-January 2010, up C$2 billion or 1 per cent from the prior year, driven by market appreciation and net new client assets, the bank said in a statement.

As a group the firm reported net income of C$1.297 billion, compared with C$653 million a year ago.