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Toronto-Dominion Bank

Toronto-Dominion Bank
Company nameTD Bank Financial Group
Company typePublic
IndustryFinancial services
FoundedToronto, Ontario, 1955
Bank of Toronto, 1855
Dominion Bank, 1869
HeadquartersToronto, Ontario, Canada
Key peopleW. Edmund Clark,
chief executive officer
Revenue(+) $19.565 billion CAD (2010)
Net income(+) $4.644 billion CAD (2010)
Total assets(+) $619.545 Billion CAD (2010)
Employees65,930 (Full-time equivalent, 2009)
SubsidiaryTD Canada Trust

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The Toronto-Dominion Bank ( ), is the second largest bank in Canada by market capitalization and deposits and the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the Dominion Bank, which were founded in 1855 and 1869, respectively. TD's Institution Number (or bank number) is 004.

The bank operates as TD Bank Financial Group (in (French, Le Groupe Financier Banque TD) and has over 79,000 employees and over 19 million clients worldwide. In Canada, the bank operates as TD Canada Trust and serves more than 11 million customers at over 1,100 branches. In the United States, the company operates as TD Bank (the initials are used officially for all U.S. operations). The U.S. subsidiary was created through the merger of TD Banknorth and Commerce Bank, and serves more than 6.5 million customers with a network of more than 1,250 branches in the eastern United States.

The company is ranked at number 86 on the Forbes Global 2000 2010 listing. In October 2008, the company was named in the listings of Canada's Top 100 Employers in Maclean's and Greater Toronto's Top Employers by the Toronto Star. Furthermore, in February of 2011, it was named one of Canada's top 10 employers by the Financial Post. After the Royal Bank of Canada was downgraded to Aa1 by Moody's on December 13, 2010 TD was the only member of Canada's Big Five banks with a perfect Aaa credit rating (at the time CIBC was Aa2, Scotiabank Aa1 and the Bank of Montreal Aa2).

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