The Toronto-Dominion Bank
TD-PFI.TO
Toronto Stock Exchange26.08
CAD
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The Toronto-Dominion Bank
TD-PFI.TO
(Toronto Stock Exchange)
Recent
price
26.08
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ratio
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div
yld
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ROIC.AI
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- Business
- The Toronto-Dominion Bank (TD Bank Group) operates as one of Canada's Big Five banks and a major North American financial institution headquartered in Toronto, Ontario; it was formed in 1955 through the merger of The Bank of Toronto (founded 1855) and The Dominion Bank (founded 1869). TD provides a comprehensive range of financial products and services to over 27.9 million customers worldwide through four key business segments: Canadian Personal and Commercial Banking, including TD Canada Trust for personal deposit, lending, and payment products; Business Banking with customized financing, cash management, international trade, TD Auto Finance Canada, Small Business Banking, Mid-Market Commercial Banking, Specialized Commercial Banking (Commercial National Accounts, Asset Based Lending, National Real Estate Group, Commercial Mortgage Group, TD Equipment Finance, Agriculture Services, Aboriginal Banking), and Merchant Solutions; U.S. Retail, including TD Bank (America's Most Convenient Bank) for retail and small business banking, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, encompassing TD Wealth (Canada) with Financial Planning, Private Wealth Management, Private Investment Advice, TD Direct Investing, and TD Asset Management; TD Insurance for auto, home, life, health, travel medical, protection plans, motorcycle, recreational vehicle, and business credit life insurance; and Wholesale Banking, including TD Securities for capital markets, corporate and investment banking, and TD Cowen for securities services. With approximately CDN$2.1 trillion in assets, TD maintains a significant presence across Canada, the United States (over 1,100 locations in the Northeast, Mid-Atlantic, Metro D.C., Carolinas, and Florida), and global financial centers in Europe and Asia-Pacific. Recent developments include the sale of its remaining equity stake in The Charles Schwab Corporation in February 2025 for proceeds of $21.0 billion, generating a net gain of $8.6 billion; a strategic relationship with Fiserv announced in July 2025 to enhance TD Merchant Solutions in Canada by adopting Clover payment processing, alongside Fiserv acquiring a portion of TD's merchant portfolio covering 3,400 contracts and 30,000 locations; a comprehensive enterprise strategic review in fiscal 2025 emphasizing deeper client relationships, simpler operations, and disciplined execution with targets for adjusted ROE of ~13% in 2026 and ~16% medium-term; ongoing restructuring incurring $686 million in pre-tax charges through Q4 2025 (primarily severance, asset impairments, and real estate optimization) expected to yield $750 million in annual savings via ~3% workforce reduction; continued integration of the 2022 Cowen acquisition forming TD Cowen; balance sheet restructuring in U.S. Retail; and remediation of its U.S. Bank Secrecy Act/Anti-Money Laundering program per a 2024 global resolution involving US$3.088 billion in payments and asset caps.