| Follow Us: Facebook Twitter Youtube RSS Feed

In The News

Toronto-Dominion Bid on ‘A Number’ of U.S. Assets

According to a report in Business Week, Toronto-Dominion Bank (TD), continues to make inroads into the United States. Canada's second-largest lender, the bank already has 1,000 branches in the U.S. and just recently bid on 'a number' of U.S. bank assets. While none of the bids ended in a transaction this time, Edmund Clark, TD's Chief Executive Officer, noted "the bank doesn't need to make any more acquisitions to expand south of the Canadian border," as TD is expecting to open about 30 new branches in the United States every year.

"Toronto-Dominion, which has spent more than $15 billion on U.S. acquisitions in the last five years, reiterated that the bank would consider buying banks assisted by the Federal Deposit Insurance Corp., as well as non-FDIC deals for banks with assets of as much as $10 billion."

"Clark said last week that Toronto-Dominion, which has 1,000 branches in the U.S. under the name TD Bank, doesn't need to make any more acquisitions to expand south of the Canadian border, and will add about 30 new branches there a year."

read full story here
original source Business Week
Signup for Email Alerts
Signup for Email Alerts