TORONTO, Jan. 29, 2016 /CNW/ - TD Bank Group ("TD" or
the "Bank") (TSX and NYSE: TD) today released on its website
(www.td.com/investor) changes in presentation to its quarterly and
annual supplemental financial information for the two years ended
October 31, 2015 in order to further
assist investors' understanding of the results of the U.S. Retail
segment. TD intends to adopt this method of presentation in its
segment reporting beginning the first quarter of 2016. The changes
to this information relate solely to the presentation of the U.S.
strategic cards portfolio results in the U.S. Retail and Corporate
segment disclosures. There have been no changes to the net income
of the segments or to the presentation of the consolidated
statement of income of the Bank.
More information, including comparative information for the
relevant periods and an investor Q&A, has been posted to the
Bank's website.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by
branches and serves more than 24 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in TD Ameritrade; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online
financial services firms, with approximately 10.2 million active
online and mobile customers. TD had CDN$1.1
trillion in assets on October 31,
2015. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
Caution Regarding Forward-Looking Statements
From time to time, the Bank (as defined in this document) makes
written and/or oral forward-looking statements, including in this
document, in other filings with Canadian regulators or the United States (U.S.) Securities and
Exchange Commission (SEC), and in other communications. In
addition, representatives of the Bank may make forward-looking
statements orally to analysts, investors, the media and others. All
such statements are made pursuant to the "safe harbour" provisions
of, and are intended to be forward-looking statements under,
applicable Canadian and U.S. securities legislation, including the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to,
statements made in this document, including in the Management's
Discussion and Analysis ("2015 MD&A") under the heading
"Economic Summary and Outlook", for each business segment under
headings "Business Outlook and Focus for 2016", and in other
statements regarding the Bank's objectives and priorities for 2016
and beyond and strategies to achieve them, the regulatory
environment in which the Bank operates, and the Bank's anticipated
financial performance. Forward-looking statements are typically
identified by words such as "will", "should", "believe", "expect",
"anticipate", "intend", "estimate", "plan", "may", and "could".
By their very nature, these forward-looking statements require
the Bank to make assumptions and are subject to inherent risks and
uncertainties, general and specific. Especially in light of the
uncertainty related to the physical, financial, economic,
political, and regulatory environments, such risks and
uncertainties - many of which are beyond the Bank's control and the
effects of which can be difficult to predict - may cause actual
results to differ materially from the expectations expressed in the
forward-looking statements. Risk factors that could cause,
individually or in the aggregate, such differences include: credit,
market (including equity, commodity, foreign exchange, and interest
rate), liquidity, operational (including technology and
infrastructure), reputational, insurance, strategic, regulatory,
legal, environmental, capital adequacy, and other risks. Examples
of such risk factors include the general business and economic
conditions in the regions in which the Bank operates; the ability
of the Bank to execute on key priorities, including to successfully
complete acquisitions, business retention, and strategic plans and
to attract, develop and retain key executives; disruptions in or
attacks (including cyber-attacks) on the Bank's information
technology, internet, network access or other voice or data
communications systems or services; the evolution of various types
of fraud or other criminal behaviour to which the Bank is exposed;
the failure of third parties to comply with their obligations to
the Bank or its affiliates, including relating to the care and
control of information; the impact of new and changes to, or
application of, current laws and regulations, including without
limitation tax laws, risk-based capital guidelines and liquidity
regulatory guidance; the overall difficult litigation environment,
including in the U.S.; increased competition, including through
internet and mobile banking and non-traditional competitors;
changes to the Bank's credit ratings; changes in currency and
interest rates; increased funding costs and market volatility due
to market illiquidity and competition for funding; critical
accounting estimates and changes to accounting standards, policies,
and methods used by the Bank; existing and potential international
debt crises; and the occurrence of natural and unnatural
catastrophic events and claims resulting from such events. The Bank
cautions that the preceding list is not exhaustive of all possible
risk factors and other factors could also adversely affect the
Bank's results. For more detailed information, please refer to the
"Risk Factors and Management" section of the 2015 MD&A, as may
be updated in subsequently filed quarterly reports to shareholders
and news releases (as applicable) related to any transactions or
events discussed under the heading "Significant Events" in the
relevant MD&A, which applicable releases may be found on
www.td.com. All such factors should be considered carefully, as
well as other uncertainties and potential events, and the inherent
uncertainty of forward-looking statements, when making decisions
with respect to the Bank and the Bank cautions readers not to place
undue reliance on the Bank's forward-looking statements.
Material economic assumptions underlying the forward-looking
statements contained in this document are set out in the 2015
MD&A under the headings "Economic Summary and Outlook", and for
each business segment, "Business Outlook and Focus for 2016", each
as updated in subsequently filed quarterly reports to
shareholders.
Any forward-looking statements contained in this document
represent the views of management only as of the date hereof and
are presented for the purpose of assisting the Bank's shareholders
and analysts in understanding the Bank's financial position,
objectives and priorities and anticipated financial performance as
at and for the periods ended on the dates presented, and may not be
appropriate for other purposes. The Bank does not undertake to
update any forward-looking statements, whether written or oral,
that may be made from time to time by or on its behalf, except as
required under applicable securities legislation.
SOURCE TD Bank Group