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TD Bank: Canada’s Second Largest Multinational Bank
The Toronto-Dominion Bank is a Canadian multinational banking and financial services corporation which was created in 1955. It was formed through the merger of the Bank of Toronto and the Dominion Bank, which were founded in 1855 and 1869, respectively. Commonly known as TD and operating as the TD Bank Group is headquartered in Toronto, Ontario. Currently, Bharat Masrani is serving the office of the CEO. The bank and its subsidiaries along with its 85,000 employees are working for 22 million clients of which 11 million are from Canada.
Current Market Value
TD bank is ranked as a top-10 bank in North America and the second largest bank in Canada. According to Forbes it is the nineteenth largest bank in the world. The bank operates at 1,150 branches across Canada and 1,300 locations in the eastern United States. It was ranked at number 66 on the Forbes Global 2000 2015 listing. The bank went up to rank #350 in 2015, from its #357 in 2014 in the Fortune Global 500 list by the Fortune Magazine.
TD’s revenue soared up to US$ 30,174 by the end of Fiscal Year 2015 from US$ 29.9 billion in 2014. They had a net income of US$ 7.7 billion and US$ 944.7 billion by the end of Fiscal Year 2014. The bank reported a Profit Margin of 27.58% and an Operating Margin (ttm) of 35.44% recently.
How it started?
The Bank of Toronto was founded in 1855 by a group of millers and merchants, and began its operations in 1856. The Dominion Bank opened its first branch in 1871. The TD Bank was chartered on February 1, 1955 as a result of the merger of these two banks. In the year 1969, the bank introduced the TD shield. In the 1990s, it acquired Waterhouse, the U.S. discount brokerage and renamed it as “TD Waterhouse”. “Green Line”, which was TD’s own discount brokerage operating in Canada, adopted the TD Waterhouse name. The bank acquired the Canada Trust in 2000. TD Canada Trust introduces a new Access Card, in June 2012 which had enhanced features that enabled its clients to use it via phone/online even for international purpose through the Visa network.
The bank operates through its subsidiaries in various sectors. There are mainly eleven subsidiaries of the bank. One among them is, Wealth Management comprises a number of advisory, distribution and asset management offers an array of investment services and products to its clients. The TD mutual fund is another important wing of Wealth Management.
The bank operates in the investment banking sector through its subsidiary called the TD securities. It handles sectors like debt and equity securities, governments and institutions worldwide and strategic advisor to corporations. Being a leading investment dealer in North America, Europe and Asia it has offices in 18 cities across the world and has employed over 3,000 staff members.
The TD Asset Management ( institutional investment management), TD Bank, N.A. (U.S. Personal and commercial banking ), TD Auto Finance (new and used vehicle financing), MBNA Canada (co-branded and affinity credit card services) are the notable ones among its subsidiaries.
Over the years the bank has continued to increase its earnings, amid all the economic crisis in Canada. It has developed a great immunity to the crisis and control risks better than any of its contemporaries. This is one of the reasons it is a top bank of Canada. TD shareholders have enjoyed the benefit of this as we are rewarded since the beginning of 2003. Its shares have gone up by more than 200% starting from 2003, which is again unmatched by any other leading banks in the country. These reasons support you to consider investing in the TD bank’s shares.
TD Bank Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming