Toronto-Dominion Bank (TD.TO)(TD) is the second largest of the Canadian banks by market cap. The company provides a diversified array of financial services operating via three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. TD was founded in 1855 and is headquartered in Toronto, Canada.
A Closer Look
Toronto-Dominion Bank is the second largest of the Big Five Canadian banks. The company’s peers include Royal Bank of Canada (RY), Bank of Nova Scotia (BNS), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CM).
The Canadian banks are regarded as some of the safest financial institutions in the world. The companies have a long track record of being conservative and focused on long-term stability and prosperity. Most of these institutions have existed and paid dividends for more than 150 years and make for great core positions in any investor’s portfolio.
Toronto-Dominion Bank has been a hit in retail financing in Canada, US and UK. The company made a conscious decision to expand their operations in the US during the global financial crisis, as the management saw an opportunity as financial institutions stumbled/collapsed. Those moves have paid off over the years as the increased revenue from US has provided shareholders with handsome returns.
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