TD reported that its earnings from Canadian retail rose just 0.9 per cent, while the bank’s U.S. retail division increased by 29 per cent. CIBC’s U.S. commercial banking and wealth management division saw 18 per cent growth, while its personal and small business banking division fell 2.4 per cent to $570 million. Scotiabank and BMO report their results next week. (Bloomberg)

Talking point: Other recent quarterly banking reports have also pointed to markets outside Canada as a key growth opportunity. In early February, BMO and Scotiabank said their earnings got a boost from international markets. At the time, Scotiabank said its Canadian banking unit was down three per cent, while its international banking earnings grew by 17 per cent, helped by acquisitions in Latin America. BMO CEO Darryl White said the U.S. was a “key strategic focus: “Gross domestic product in the U.S. is expected to grow 2.6 per cent this year, compared to Canada’s 1.5 per cent, making the former a much larger market than at home.