Ever wondered about Toronto Dominion Bank net worth? Let’s dive into their financial landscape with a fresh perspective.
Here, Ando Money breaks down the facts you need to stay informed about one of Canada’s leading banks.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Toronto-Dominion Bank |
| Full Name | The Toronto-Dominion Bank |
| Traded as | TD |
| ISIN | CA8911605092 |
| Founded | 1955 (through the merger of Bank of Toronto and The Dominion Bank) |
| Founders | N/A |
| Country/Territory | Canada |
| Headquarters | Toronto, Ontario, Canada |
| Chief Executive Officer | Bharat Masrani |
| Number of Employees | 103,762 |
| Market Cap | $95.50 billion |
| Total Assets | $1.97 trillion |
| Total Equity | $112 billion |
| Revenue | $27.53 billion (Q1 2024) |
| Net Income | $2.56 billion (Q1 2024) |
What is the Net Worth/ Market Cap Of Toronto-Dominion Bank in 2024?
Toronto-Dominion Bank (TD Bank Group), a prominent player in the financial sector, boasts a market capitalization of $95.50 billion in 2024.
This positions TD Bank as a significant entity in the banking industry, reflecting its robust financial health and investor confidence.
When compared to other global banks, TD Bank’s market cap stands strong. For instance, Citigroup holds a market capitalization of $113.17 billion, placing it ahead of TD Bank.
On the other hand, Banco Santander has a market cap of $77.23 billion, and UBS comes in at $97.48 billion.
These comparisons underscore TD Bank’s competitive standing in the international banking arena.
Toronto-Dominion Bank Financial Performance Overview
Historical Financial Performance
TD Bank has a rich financial history, marked by strategic mergers and acquisitions. Established in 1955 through the merger of the Bank of Toronto and The Dominion Bank, TD Bank has grown significantly over the decades.
Key milestones include the acquisition of Canada Trust in 2000, which was rebranded as TD Canada Trust. This merger played a crucial role in expanding TD’s retail banking operations across Canada.
In the early 2000s, TD Bank ventured into the U.S. market with the acquisition of Banknorth, which was later rebranded as TD Banknorth.
This move was followed by the acquisition of Commerce Bancorp in 2008, further strengthening TD’s presence in the United States.
These strategic acquisitions have been instrumental in TD Bank’s growth, contributing to its robust financial performance over the years.
Current Financial Standing and Market Capitalization
As of 2024, TD Bank’s total assets amount to $1.97 trillion, with total equity of $112 billion. These figures highlight the bank’s substantial financial resources and its ability to manage and grow its assets effectively.
The bank’s revenue for the latest fiscal year is $27.53 billion, indicating strong income generation from its various operations.
Despite a reported net income of $2.56 billion, the adjusted net income stands at $3.79 billion, showcasing TD Bank’s ability to maintain profitability even after accounting for various adjustments and extraordinary items.
Revenue Streams and Profitability
TD Bank’s primary revenue streams include personal and commercial banking, wealth management, and insurance.
The bank’s Canadian Personal and Commercial Banking division reported a net income of $1.74 billion, driven by continued volume growth and positive operating leverage.
The U.S. Retail Bank division, although facing challenges, reported an adjusted net income of $1.27 billion.
Wealth Management and Insurance also performed well, with a net income of $621 million, reflecting strong business momentum and revenue growth.
The Wholesale Banking division reported a net income of $361 million, benefiting from higher trading-related revenue and underwriting fees.
Asset Valuation and Liabilities
TD Bank’s asset valuation stands at $1.97 trillion, encompassing a diverse portfolio that includes loans, securities, and other financial instruments.
The bank’s liabilities are managed through prudent risk management practices, ensuring a stable asset-to-liability ratio.
TD Bank’s total loans net of allowance for loan losses amount to $928.1 billion, while total deposits are $1.2 trillion.
Investment Portfolio and Risk Management
TD Bank’s investment strategies are geared towards achieving long-term growth and stability.
The bank’s investment portfolio includes a mix of equities, fixed income securities, and other financial assets.
TD Bank’s risk management practices are robust, focusing on mitigating risks associated with market fluctuations, credit exposure, and operational challenges.
The bank’s Common Equity Tier 1 (CET1) Capital ratio is 13.4%, reflecting strong capital adequacy and financial resilience.
This ratio is a key indicator of the bank’s ability to absorb losses and sustain operations during economic downturns.
Shareholder Value and Equity
Shareholder value is a key priority for TD Bank, with a focus on delivering consistent returns and maintaining strong equity levels.
The bank’s return on common equity (ROE) is 9.5%, while the adjusted ROE stands at 14.5%.
These figures demonstrate TD Bank’s commitment to enhancing shareholder value through effective management and strategic investments.
Regulatory Compliance and Financial Stability
TD Bank operates in a highly regulated environment, adhering to stringent financial regulations and standards.
The bank’s compliance with international financial regulations ensures its operational integrity and financial stability.
Recent enhancements to the bank’s anti-money laundering (AML) program highlight its commitment to maintaining regulatory compliance and mitigating financial risks.
Future Financial Outlook and Growth Projections
Looking ahead, TD Bank is well-positioned for continued growth and expansion.
The bank’s strategic plans focus on enhancing its digital capabilities, expanding its market presence, and improving customer experience.
Despite potential challenges in the financial sector, TD Bank remains optimistic about its future financial performance, driven by its strong foundation and strategic initiatives.
FAQs about Toronto-Dominion Bank
When was TD Bank established?
It was founded on February 1, 1955. This was the result of a merger between the Bank of Toronto (established in 1855) and The Dominion Bank (established in 1869).
What services does TD Bank offer?
It provides a wide range of services:
- Personal banking: chequing and savings accounts, credit cards, mortgages, and loans.
- Business banking: solutions for small businesses to large corporations, including loans and credit lines.
- Wealth management: investment products like RRSPs and TFSAs.
- Insurance and investment banking.
How many branches does TD Bank have?
The bank has over 1,100 branches in Canada and more than 1,300 in the United States. This extensive network serves millions of customers across North America.
What is TD’s market presence?
It is one of North America’s largest banks by assets and market capitalization. It serves over 26 million customers globally, with a strong presence in retail and wholesale banking.
Does TD Bank pay dividends?
Yes, the bank pays dividends. Currently, it pays a quarterly dividend of CAD 1.02 per share, resulting in an annual yield of about 5.4%.
What is TD Bank’s commitment to technology?
The bank invests in new technologies and innovations like AI, blockchain, and enhanced mobile banking. This helps provide efficient, secure, and user-friendly services.
How secure is banking with TD?
TD Bank uses multiple security measures:
- Firewalls
- 128-bit data encryption
- Advanced fraud detection systems
It is insured by the Canada Deposit Insurance Corporation (CDIC) and the Canadian Investor Protection Fund (CIPF).
Conclusion
There you have it, a snapshot of Toronto Dominion Bank’s net worth. For more insights, visit andomoney.com and stay informed!
