TD Bank Financial Group today reported a 44% jump in profit in the fourth quarter.

Net income for the quarter ended October was $1.09 billion, or $1.50 a share, up from $762 million, or $1.04 a share, in the year-ago period.

“A strong fourth-quarter financial performance wrapped up a tremendous 2007,” stated CEO Ed Clark. “For the year, all TDBFG businesses posted double-digit earnings growth.”

Revenue was $3.55 billion in the three months ended Oct. 31, compared with $3.32 billion in the year earlier period.

Provisions for bad loans declined to $139 million from $170 million, and annualized return on equity increased to 20.8% from 15.7%.

TD said its full-year revenue grew to $14.28 billion from $13.19 billion.

Net earnings for the year were $3.997 billion, or $5.48 per share, down from $4.60 billion, or $6.34 per share. The prior-year results included a $1.67 billion gain on the sale of part of TD’s interest in Ameritrade.

“This quarter demonstrated the ongoing strength of our domestic businesses and good progress in our U.S. operations,” Clark said.

“In a year of turbulent markets, clearly the successful altering of our risk-reward profile was a significant advantage for us. This year was also defined by the investments we made to expand our U.S. platform, and we’re excited about growing as a leading North American financial institution.”

TD Canada Trust produced another strong quarter with earnings up 14% compared to the same quarter last year.

Wealth Management, including the bank’s equity share in TD Ameritrade, produced another very strong quarter, with a 31% increase in earnings compared to the fourth quarter of 2006.