Toronto-Dominion Bank TD-T reported a higher third-quarter profit that beat analysts’ estimates but also booked restructuring charges as the bank works to shore up deficiencies in its anti-money laundering controls and adjust to a cap on U.S. retail assets imposed by regulators.

TD earned profit of $3.37-billion, or $1.89 per share, in the fiscal third quarter that ended July 31. That compared with a quarterly loss in the same quarter last year after U.S. regulators hit the bank with a US$3-billion fine over serious lapses in its programs to prevent money laundering.

Adjusted to exclude that one-time charge, TD said it earned $2.20 per share, which was higher than the $2.05 consensus estimate among analysts.

The quarterly earnings were affected by $262-million incurred from TD’s moves

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