Toronto-Dominion Bank today announced its second-quarter earnings rose 19%, thanks to profits from its Canadian retail-banking unit and wealth management business.

TD said net income was $879 million, or $1.20 a share, in the quarter ended April 30, up from $738 million, or $1.01 a share, in the year-earlier period.

Excluding certain items, including the amortization of intangibles and an after-tax charge related to U.S. restructuring, TD said adjusted income was $995 million, or $1.36 a share, up 27.6%.

Total revenues hit $3.5 billion in the quarter, up from $3.1 billion in the same period in 2006.

Return on equity rose to 17.1% from 16.5% a year earlier, the bank said.

Profit at TD’s personal and commercial banking unit rose 16% to $540 million.

In the United States, subsidiary TD Banknorth, reported lower profits, as job cuts and branch closures boosted costs. Banknorth earned $23 million in the quarter, down 61%.

TD said earlier this month that restructuring costs
The bank’s wealth management division, which includes the Canadian mutual funds and discount brokerage business and its stake in TD Ameritrade, had a strong quarter, as profit jumped 30% to $197 million.

“TD delivered another excellent earnings performance in the second quarter,” said Ed Clark, TD Bank Financial Group president and CEO, in a release.