TD Bank (TD) Barclays 23rd Annual Global Financial Services Conference summary

Leadership experience and strategic focus

• Extensive background in Canadian personal banking and wealth management informs a holistic approach to integrating wealth and retail banking, leveraging in-branch financial planners and small business advisors for cross-segment growth.

• Organic growth in wealth management has reached scale, presenting significant opportunities to deepen relationships, as only 15% of customers have a wealth management connection.

Consumer trends and credit quality

• Elevated household debt and high housing costs remain key headwinds, with mortgage rates still above historical lows despite recent rate cuts.

• Unemployment increases are driven by population growth outpacing job creation, not job losses, resulting in stable credit portfolios.

• Mortgage portfolio credit quality is normalizing but remains better than pre-pandemic levels, with low-risk segments stable and renewals performing in line with expectations.

Deposit and growth strategies

• Holds a leading 25.56% market share in non-term deposits, focusing on new-to-Canada customers as a primary growth engine.

• Branch network is concentrated in urban and immigrant-heavy markets, with pre-arrival partnerships (e.g., HDFC in India) enhancing acquisition.

• Digital partnerships and long-term relationship pricing support deposit growth in a competitive market.