TD posts transcript of Scotiabank Financials Summit presentation
TD•AI-driven productivity gains
Agentic AI was described as accelerating cost and productivity gains, with management seeing upside to its $1 billion benefit target.
U.S. expansion, credit outlook and capital plan
TD plans to open 100 new U.S. stores by end-2028, citing about $53 billion of asset-cap room, rising to about $100 billion including non-HQLA.
Credit outlook guidance stayed at the low end of 40-50 bps PCLs, with $500 million of tariff-related reserves maintained.
Wholesale earnings contribution rose to about 15% from about 9% three years ago, with a 20%-25% longer-term target.
Capital plan targeted CET1 near 13% by end-2027 from 14.3%, favoring buybacks via NCIB over a special dividend.
Profitability, restructuring and U.S. remediation
Return on equity reached 16% in Q3, above the 13% target for the year, with cost restructuring flagged as a key driver.
Restructuring costs hit the $900 million goal in Q3, with management pointing to potential upside versus the $2 billion-$2.5 billion plan.
U.S. AML remediation remained the top priority, with management actions expected to be delivered by calendar year-end before validation and testing.
Scotiabank Financials Summit presentation outlines priorities
At the Scotiabank Financials Summit on Sept. 9, 2026, CEO Raymond Chun outlined priorities in a fireside chat with analyst Mike Rizvanovic.
