08:05:56 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,854,189,564
Close 2015-11-25 C$ 54.33
Market Cap C$ 100,738,119,012
Recent Sedar Documents

FP says Big Six banks aggressively protecting profits

2015-11-25 09:15 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada

The Financial Post reports in its Wednesday, Nov. 25, edition that executives at Canada's largest banks have been stuck on repeat, telling investors about their efforts to cut and control costs. The Post's Christina Pellegrini writes that Scotia Capital analysts say starting a week Tuesday and through early December, this chorus "will reach a crescendo" when the banks report earnings for the last time this fiscal year. A trio of financial institutions have already announced that they will record restructuring costs in the fourth period: $85-million in severance and professional fees, before taxes, at National Bank of Canada; an estimated $200-million at Canadian Imperial Bank of Commerce; and about $300-million at Toronto-Dominion Bank, according to Scotia. Already in 2015, CIBC recorded $85-million in restructuring charges, before taxes, and TD has booked $337-million. Canadian banks are aggressively protecting their profits in the face of a sluggish domestic economy, slowing loan growth, changing consumer habits and a fresh crop of new deep-pocketed competitors. Scotia analysts say fourth quarter results might be soft, but they will not be catastrophic.

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