TORONTO DOMINION BANK

The Toronto Dominion Bank is an international banking and financial services company that is based out of Toronto. The company, trading under the name TD Bank Group, has many subsidiaries including TD Asset Management, TD Auto Finance, TD Canada Trust, TD Commercial Banking, TD Securities, and more. Toronto Dominion Bank can trace its history back to 1855, when the Bank of Toronto was chaptered. The bank would grow and establish its network early on, opening its first branch in Montreal in 1860. The company had very conservative policies, maintaining a high reserve and growing slowly. In 1871, the Dominion Bank was created under the leadership of James Austin. The two banks would grow and expand throughout the rest of the 19th century and into the 20th, facing troubles such as the first world war. The Bank of Toronto and Dominion Bank would grow during the wartime economy onset by WWII, doubling their assets in less than a decade. In 1955, the two banks would be approved for a merger that would form the entity today known as the Toronto Dominion Bank. The company would go through restructuring and aggressive expansion, extending its reach in traditional markets as well as new markets such as natural resources and focusing on an active public relations campaign. The bank would focus on international expansion in 1970, establishing its presence in the UK, US, and Middle East as well as Hong Kong. Although Toronto Dominion Bank would suffer losses during the 1980s, it would recover quickly due to its conservative policies. In the 1990s, the company would establish an online presence and introduce e-banking as well as merge with Canada Trust in 1999. Toronto Dominion Bank today has total assets of over $680 billion, bringing in a revenue of over $21 billion. The company has over 79,000 employees that take care of its 22 million clients through thousands of branches around the world. Some of the mutual funds it offers include the Balanced Income Fund, Dividend Income Fund, Global Bond Fund, and High Yield Bond Fund.