The
Toronto-Dominion Bank, also known as “TD Bank” or “TD”, and
collectively with its subsidiaries referred to as “TD Financial
Group”, was formed on February 1, 1955 through the amalgamation of The
Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in
1869.
Toronto
Dominion started in 1955 with 450 branches, including one in London,
England, and an office in New York. By the end of fiscal 1998, 44 years
after amalgamation, the number of branches increased to approximately
1,000 branches and subsidiaries, and the number of Green Machines (the
Bank’s automatic banking machine) rose to 2124. TD not only has
branches and regional representative offices, but also wholly-owned
subsidiaries and affiliates representing the Bank in North America,
England, Australia, Hong Kong and Tokyo.
As of
October 31, 1998, The Toronto-Dominion Bank was the fifth largest
chartered Bank in Canada in terms of total assets and on the basis of
common shareholders’ equity and the fourth largest bank in terms of
market capitalization. From 1993 to 1998, the Bank’s assets have grown
about 16.5% annually to a total of $181.8 billion at the end of the
fiscal 1998.
TD
serves customers through its network of more than 1,000 retail banking
and investment outlets, as well as through its electronic banking arm
– TD Access, which included Telephone Banking, The Green Machine
network, PC Banking, Web Banking and INTERAC Direct Payment. TD provides
a broad array of products and services, including: wealth management,
credit cards, personal deposits and loans as well as business banking.
