Picture a North American country with a population of 30 million, the size of California, and an economy smaller than that. A recovering economy, with high taxes, slow growth, and high unemployment. Freedom to sell financial products, but demanding customers and low margins. What's a Canadian national bank like Toronto-Dominion Bank to do? Look around the block, and the world, including the United States, for the best pickings.
Canadian banks have long been international in scope, as experts in natural resources and trading partners. Toronto-Dominion Bank, the 14th largest bank in North America with assets of $136 billion, has the highest securities rating of any major Canadian bank. In addition to a corporate banking unit specializing in communications, health care, and utilities, the bank is known for its aggressive use of technology.