Profile: Toronto-Dominion Bank (TD.TO)
9 Dec 2016
The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank is an online financial services firm, with approximately 10.2 million online and mobile customers. The Bank conducts its business through the segments, which include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of the Bank's retail and commercial banking operations operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking products and services, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Corporate segment includes the impact of treasury and balance sheet management activities.
The Bank's Canadian Retail segment provides a range of financial products and services to over 15 million customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses. Under the TD Canada Trust brand, personal and small business banking provides a range of financial products and services, such as personal deposits, consumer lending products, asset management, and credit cards and merchant services, to customers through its network of approximately 1,165 branches, over 3,150 automated banking machines, telephone, Internet and mobile banking. Its commercial banking business serves the needs of medium and large Canadian businesses by offering a range of customized products and services to help business owners meet their financing, investment, cash management, international trade and day-to-day banking needs.
The auto finance business provides financing options to customers at point of sale for automotive and recreational vehicle purchases through its auto dealer network. The credit card business provides a line-up of credit cards, including co-branded and affinity credit card programs. The wealth business offers a range of wealth products and services to a set of retail and institutional clients in Canada and Europe through the direct investing, advice-based and asset management businesses. The insurance business offers property and casualty insurance, as well as life and health insurance products in Canada.
The Bank's U.S. Retail segment provides a range of financial products and services to over eight million customers in the Bank's United States personal and commercial banking businesses, including the United States credit cards, auto finance and wealth management. The retail banking operations provide a range of financial products and services to customers through multiple delivery channels, including a network of approximately 1,230 stores located along the east coast from Maine to Florida, mobile and Internet banking, automated teller machines and telephone. The commercial banking operations serve the needs of businesses, through a range of products and services to meet their financing, investment, cash management, international trade and day-to-day banking needs. Its auto finance business provides financing options to customers at point of sale for automotive vehicle purchases. The wealth management business offers a range of wealth products and services to retail and institutional clients. The U.S. Retail segment works with TD Ameritrade Holding Corporation (TD Ameritrade) to refer clients to TD Ameritrade for their direct investing needs.
The Bank's Wholesale Banking segment is engaged in providing a range of capital markets, investment banking, and corporate banking products and services to corporate, government and institutional clients in various global financial centers. It provides market access to its wealth and retail operations, and provides wholesale banking solutions to its partners and their customers. The investment banking and capital markets product group includes advisory, underwriting, trading, facilitation and execution services. The corporate banking product group includes corporate lending, trade finance and cash management services.
The Bank's Corporate segment provides centralized advice and counsel to its businesses. It comprises the impact of treasury and balance sheet management, provisions for incurred but not identified losses related to the Canadian loan portfolio, tax items at an enterprise level, the elimination of taxable equivalent and other intercompany adjustments, and residual unallocated revenue and expenses.
66 Wellington Street West
12Th Floor, Td Tower
TORONTO ON M5K 1A2
Company Web Links
- Fitch Affirms The Toronto-Dominion Bank's Ratings at 'AA-/F1+'; Outlook Stable
- BRIEF-TD Bank to redeem 4.779 pct subordinated debentures
- BRIEF-TD Bank CEO Mike Pedersen to retire
- BRIEF-TD Bank Group comments on expected impact of TD Ameritrade's Q4 results
- BRIEF-TD Ameritrade and Toronto-Dominion bank nearing deal to buy Scottrade for $4 bln- source