Bank continues recovery from anti-money laundering charges.

TD Bank Group swung to a profit in its latest quarter compared to last year as it continues to restructure and recover from anti-money laundering failures.

“This quarter, we made significant progress on our U.S. balance sheet restructuring. We completed the investment portfolio repositioning announced last October and achieved our targeted 10% asset reduction,” Raymond Chun, TD’s chief executive officer, said on.

“Thebankalso continued to prioritize and execute on our anti-money laundering remediation.”

It completed a number of remediation efforts including implementing new anti-money laundering tools, improved investigative capabilities and a newly launched transaction monitoring platform.

“This quarter, we deployed our first machine learning models in our transaction monitoring environment. This tool will continue to improve the effectiveness and efficiency of our program, allowing our AML team to focus their investigative expertise and intelligence,” TD’s U.S. chief Leo Salom said.

Thebankreported a third-quarter profit of $3.34 billion, compared with a loss of $181 million in the same quarter last year. Thebanksays the profit amounted to $1.89 per diluted share for the quarter ended July 31, compared with a loss of 14 cents per diluted share a year earlier.

The lender also reported a $262-million restructuring of its U.S. balance sheet, along with restructuring charges of $333 million.