TD posts transcript of Scotiabank Financials Summit presentation
Reuters2026/09/11 19:40- At the Scotiabank Financials Summit on Sept. 9, 2026, CEO Raymond Chun outlined priorities in a fireside chat with analyst Mike Rizvanovic.
- 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.
- 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.
- Agentic AI was described as accelerating cost and productivity gains, with management seeing upside to its $1 billion benefit target.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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