Awards for Excellence 2018
Another year, another record. TD Bank clocked up its eighth year of record earnings in fiscal 2017 and has already posted a 20% increase in pre-tax profits for the first half of fiscal 2018, indicating that it is on track for yet another triumph as it continues to build across its whole franchise. It is once again Euromoney’s pick for Canada’s best bank.
The engine of TD continues to be its Canadian retail segment, more than double the size of its US operation and six times the size of its wholesale business. The firm has benefited from the fact that its loan book is less exposed than peers to the energy sector and it is less dependent on volatile capital markets revenues.
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| Bharat Masrani |
The bank has pushed on with digital development, adding a design research lab in Toronto to its existing Communitech Innovation Lab. It has also opened a new cybersecurity office, based in Israel, and this year bought Layer 6, a Toronto-based artificial intelligence startup.