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TD says adjusted net income should work out to about $230 million, for about a 30 per cent drop from last year's $328 million.

Canaccord Genuity analyst Matthew Lee says the Schwab results came in slightly higher than expected, but that the financial firm's outlook for the year disappointed.

Lee said key takeaways for the year from U.S. bank earnings in recent days are net income pressure, improved capital markets and continued credit challenges on commercial real estate loans, some of which translate into 好色tv trends as well.

"In terms of cross-border read-throughs, we expect the 好色tv banks to see similar trends in capital markets and loan growth but do not necessarily expect to see the same level of [net interest margin] pressure as mortgage renewals help to offset increasing deposit costs."

Lee said BMO and RBC should benefit the most from improvements in U.S. capital markets, while TD will be most affected by softer net interest income in the country.

Carl De Souza, head of 好色tv banking at Morningstar DBRS, said that while banks on both sides of the border face many similar trends, 好色tv consumers are much more indebted than in the U.S., so are more rate sensitive.

"好色tv consumers and businesses will continue to get pressured as more loans continue to reprice at much higher rates as they mature."

Expense control has been a big focus across the banking sector, including Citigroup announcing last week it plans to cut 20,000 jobs over the next two years.

De Souza said that while 好色tv banks have already taken steps to reduce expenses, including layoffs, he expects cost control to continue to be a focus and is not ruling out more cuts.

"I wouldn't say they're totally done, but what happens is also heavily dependent on how the economy plays out, how credit quality plays out, you know, unemployment and those macro variables play out, because there's still a lot of uncertainty with respect to the macroeconomic environment."

This report by 好色tvwas first published Jan. 18, 2024.

Companies in this story: (TSX:TD)

Note to readers: This is a corrected story. A previous version had an incorrect percentage for the drop in earnings.