The Toronto-Dominion Bank (TD): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de l'une des puissances financières les plus influentes du Canada, la Toronto-Dominion Bank (TD). Cette toile complète du modèle commercial révèle comment TD navigue magistralement dans le paysage bancaire complexe, mélangeant des solutions numériques innovantes avec les services financiers traditionnels. Des partenariats stratégiques à divers sources de revenus, le modèle de TD démontre une approche sophistiquée pour répondre aux besoins des clients tout en maintenant un avantage concurrentiel dans un écosystème financier de plus en plus dynamique.

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les assureurs

TD Bank maintient un partenariat stratégique avec Manurife Financial Corporation, offrant des assurances et des produits bancaires intégrés. Au quatrième trimestre 2023, ce partenariat génère environ 450 millions de dollars de revenus annuels à vente croisée.

Partenaire	Type de partenariat	Impact annuel sur les revenus
Manulife Financial	Distribution des produits d'assurance	450 millions de dollars

Collaboration avec les entreprises technologiques

TD Bank collabore avec plusieurs partenaires technologiques pour améliorer les solutions bancaires numériques:

• Microsoft Azure pour l'infrastructure cloud
• Salesforce pour la gestion de la relation client
• MasterCard pour l'intégration des technologies de paiement

Partenaire technologique	Domaine de mise au point	Investissement (2023)
Microsoft	Infrastructure cloud	85 millions de dollars
Salesforce	Solutions CRM	42 millions de dollars

Partenariats de réseau de vente au détail

TD Bank a élargi des points de service grâce à des collaborations stratégiques de réseau de vente au détail, dont 3 200 emplacements de vente au détail à travers le Canada et les États-Unis.

Collaborations internationales d'institution financières

TD Bank a établi des coentreprises avec des institutions financières internationales, notamment:

• TD Bank Group China Partnership
• Alliance stratégique avec HSBC pour les services bancaires transfrontaliers

Partenaire international	Portée du partenariat	Volume de transaction annuel
Hsbc	Banque transfrontalière	2,3 milliards de dollars

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

TD Bank exploite 1 095 succursales à travers le Canada et les États-Unis en 2023. La banque dessert environ 27 millions de clients dans le monde. Les revenus bancaires au détail ont atteint 18,3 milliards de CAD au cours de l'exercice 2023.

Catégorie de service bancaire	Volume total des transactions (2023)	Revenus générés
Banque personnelle	12,4 millions de clients actifs	CAD 10,2 milliards
Banque commerciale	215 000 clients commerciaux	8,1 milliards de CAD

Développement de la plate-forme bancaire numérique

TD Bank a investi 2,1 milliards de CAD dans la transformation numérique en 2023. La plate-forme bancaire mobile prend en charge 7,3 millions d'utilisateurs numériques actifs.

• Volume des transactions numériques: 3,2 milliards de transactions annuelles
• Téléchargements d'applications mobiles: 4,6 millions
• Pénétration des services bancaires en ligne: 68% du total de la clientèle

Gestion des risques et avis financier

La division de gestion des risques gère 1,2 billion de CAD en actifs. Budget de conformité et d'atténuation des risques: 780 millions de CAD en 2023.

Catégorie de gestion des risques	Total des actifs sous gestion	Budget d'atténuation des risques
Risque de crédit	620 milliards de CAD	CAD 340 millions
Risque de marché	380 milliards de CAD	220 millions CAD

Investissement et gestion de la patrimoine

TD Wilth gère 413 milliards de CAD des actifs des clients à partir de 2023. Les services de gestion des investissements ont généré 3,6 milliards de CAD de revenus.

• Clients totaux de gestion de patrimoine: 1,2 million
• Valeur moyenne du portefeuille des clients: 345 000 CAD
• Comptes d'investissement enregistrés: 890 000

Service client et assistance

Les opérations de service à la clientèle emploient 5 600 membres du personnel de soutien dédié. Budget annuel du support client: 420 millions de CAD.

Canal de support	Volume de contact annuel	Temps de réponse moyen
Support téléphonique	12,4 millions d'appels	3,2 minutes
Support numérique	8,7 millions d'interactions	2,1 minutes

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: Ressources clés

Réseau de succursale étendue

TD Bank exploite 1 074 succursales à travers le Canada en 2023. La banque maintient une présence physique complète avec:

Région	Nombre de branches
Ontario	626
Québec	248
Autres provinces	200

Technologie bancaire numérique

L'infrastructure numérique de TD Bank comprend:

• Plateforme de banque mobile avec 7,8 millions d'utilisateurs numériques actifs
• Système bancaire en ligne soutenant 10,4 millions de comptes clients
• Technologies de service à la clientèle alimentées par l'IA

Capital financier

Ressources financières au quatrième trimestre 2023:

Métrique financière	Montant
Actif total	1,85 billion de dollars
Ratio de niveau 1 de l'équité commun	14.7%
Capital total	93,2 milliards de dollars

Ressources humaines

Composition de la main-d'œuvre:

• Total des employés: 89 500
• Employés avec des certifications financières avancées: 62%
• Tiration moyenne des employés: 8,3 ans

Capacités d'analyse des données

Détails de l'investissement technologique:

Investissement d'analyse	Montant
Budget technologique annuel	4,2 milliards de dollars
Les scientifiques des données employés	1,200
Modèles d'apprentissage automatique	340+

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: propositions de valeur

Solutions financières complètes pour divers besoins clients

TD propose un large éventail de produits financiers avec un actif total de 1,925 billion de CAD au 423 du quatrième trimestre. La banque dessert environ 27 millions de clients dans des segments bancaires personnels et commerciaux.

Catégorie de produits	Valeur totale du portefeuille	Segment de clientèle
Banque personnelle	CAD 643 milliards	Clients de détail
Banque commerciale	CAD 412 milliards	Petites / moyennes entreprises
Gestion de la richesse	CAD 387 milliards	Individus de valeur nette élevée

Expériences de banque numérique et physique pratique

TD maintient 1 074 succursales et 3 429 distributeurs automatiques de billets à travers le Canada. Les plates-formes bancaires numériques comprennent:

• Application mobile TD: 5,3 millions d'utilisateurs actifs
• Banque en ligne: 8,2 millions d'utilisateurs enregistrés
• Volume de transactions numériques: 2,1 milliards de transactions annuelles

Taux d'intérêt concurrentiels et produits financiers

Les taux d'intérêt actuels de TD pour les principaux produits financiers:

Produit	Taux d'intérêt	Investissement minimum
Compte d'épargne	3.25%	1 000 CAD
Taux hypothécaires	5.14% - 6.39%	Termes variables
GIC d'investissement	4.75% - 5.50%	CAD 5 000

Conseils et soutien financiers personnalisés

TD offre des services de conseil personnalisés avec:

• 1 200 conseillers financiers à l'échelle nationale
• Portfolio moyen des clients: CAD 425 000
• Gestionnaires de relations dédiés aux clients à haute nette

Grande réputation de confiance et de fiabilité des clients

Indicateurs de performance financière de TD:

Métrique	Valeur 2023
Revenu net	16,4 milliards de CAD
Retour des capitaux propres communs	14.8%
Évaluation de satisfaction du client	86%

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: relations avec les clients

Interactions bancaires numériques et en personne personnalisées

TD Bank dessert 27,3 millions de clients sur des canaux numériques et physiques. En 2023, la banque a signalé 15,4 millions d'utilisateurs de banque numérique actifs, avec 9,2 millions d'utilisateurs d'applications bancaires mobiles.

Canal	Nombre d'utilisateurs	Pourcentage du total des clients
Utilisateurs de la banque numérique	15,4 millions	56.4%
Utilisateurs d'applications bancaires mobiles	9,2 millions	33.7%
Interactions de branche en personne	1 100 succursales	10.9%

Support client 24/7 via plusieurs canaux

TD fournit un support client sur plusieurs plateformes avec une cote de satisfaction client de 92%.

• Prise en charge du téléphone: disponible 24/7 avec un temps d'attente moyen de 3,2 minutes
• Chat en ligne: temps de réponse en moins de 45 secondes
• Assistance par e-mail: réponse moyenne dans les 6 heures
• Support des médias sociaux: réponse dans les 2 heures

Programmes de fidélité et récompenses pour les clients

Le programme TD Rewards comprend 1,6 million de participants actifs avec 475 millions de dollars en récompenses en récompense en 2023.

Catégorie de récompense	Valeur totale	Taux de rachat
Récompenses de voyage	268 millions de dollars	56.4%
Reculer	142 millions de dollars	29.9%
Remises de produits	65 millions de dollars	13.7%

Conseils financiers proactifs et consultation

TD a investi 87 millions de dollars dans les services de conseil financier en 2023, soutenant 425 000 clients ayant une planification financière personnalisée.

Solutions financières sur mesure pour différents segments de clients

TD propose des solutions bancaires spécialisées dans cinq segments de clientèle principaux:

• Banque personnelle: 18,7 millions de clients
• Banque des petites entreprises: 2,6 millions de clients
• Banque commerciale: 325 000 clients commerciaux
• Gestion de la patrimoine: 1,2 million de clients à forte valeur
• Banque des étudiants et des jeunes: 1,5 million de comptes

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: canaux

Succursales bancaires physiques

TD Bank exploite 1 100 succursales à travers le Canada et les États-Unis en 2024. La banque maintient 869 succursales au Canada et 231 succursales aux États-Unis.

Région	Nombre de branches
Canada	869
États-Unis	231
Total des succursales	1,100

Plateformes bancaires en ligne

La plate-forme bancaire numérique de TD sert 10,5 millions de clients bancaires numériques actifs à travers le Canada et les États-Unis.

• Plateforme Web accessible via TD.com
• Compatibilité multi-appareils
• Sécuriser les capacités de transaction en ligne

Applications bancaires mobiles

L'application bancaire mobile de TD a été téléchargée 4,3 millions de fois en 2023, avec une cote de satisfaction de l'utilisateur de 92%.

Métriques d'application mobile	Statistiques
Téléchargements totaux	4,3 millions
Satisfaction de l'utilisateur	92%
Plateformes disponibles	iOS et Android

Réseaux ATM

TD fonctionne 2 800 ATM Machines à travers le Canada et les États-Unis.

Région	Nombre de distributeurs automatiques de billets
Canada	1,900
États-Unis	900
Total de distributeurs automatiques de billets	2,800

Services bancaires téléphoniques

Le service bancaire téléphonique de TD gère approximativement 3,2 millions d'interactions clients mensuellement.

• Support client 24/7
• Options de service multilingues
• Prise en charge des agents automatisés et en direct

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: segments de clientèle

Clients bancaires de détail individuels

TD dessert environ 26 millions de clients bancaires au détail à travers le Canada et les États-Unis.

Client démographique	Nombre de clients	Pénétration du marché
Banque personnelle	17,5 millions	33% du marché canadien
Détenteurs de cartes de crédit	4,2 millions	22% du marché canadien des cartes de crédit

Petites et moyennes entreprises

TD prend en charge environ 500 000 clients de petites et moyennes entreprises (PME).

• Taille moyenne des prêts bancaires d'entreprise: 275 000 $
• Portfolio total de prêts aux PME: 42,3 milliards de dollars
• Part de marché des banques commerciales au Canada: 27%

GRANDES clients d'entreprise

TD dessert plus de 3 500 clients de grandes entreprises dans diverses industries.

Segment de l'entreprise	Prêt total des entreprises	Taille moyenne du client
Banque commerciale	189,6 milliards de dollars	54,2 millions de dollars par client

Clients de gestion de la patrimoine

TD gère 404 milliards de dollars d'actifs de gestion de patrimoine.

• Clients totaux de gestion de patrimoine: 1,2 million
• Actifs du client moyen sous gestion: 337 000 $
• Part de marché de la gestion de la patrimoine: 19,5%

Clients bancaires internationaux

TD opère sur plusieurs marchés internationaux avec une présence significative aux États-Unis.

Segment géographique	Nombre de clients	Actif total
Opérations américaines	8,5 millions de clients	517 milliards de dollars
Clients internationaux	2 100 clients	76,3 milliards de dollars

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

En 2023, la rémunération totale de la rémunération et les avantages sociaux de la TD Bank était de 9,64 milliards de dollars. La banque employait environ 89 000 employés équivalents à temps plein à travers l'Amérique du Nord.

Catégorie de coûts	Montant (CAD)
Dépense totale de rémunération	9,64 milliards de dollars
Salaire moyen des employés	$98,230
Avantages en% de salaire	22.5%

Maintenance des infrastructures technologiques

TD Bank a investi 1,87 milliard de dollars dans la technologie et les infrastructures numériques en 2023.

• Infrastructure de cloud computing: 412 millions de dollars
• Systèmes de cybersécurité: 276 millions de dollars
• Mises à niveau de la plate-forme bancaire numérique: 538 millions de dollars
• Maintenance matérielle et logicielle: 644 millions de dollars

Coûts opérationnels du réseau de succursale

TD Bank a exploité 1 074 succursales en 2023, avec des dépenses opérationnelles du réseau de succursales totales de 2,3 milliards de dollars.

Catégorie de coûts opérationnels	Montant (CAD)
Loyer et occupation	892 millions de dollars
Services publics	276 millions de dollars
Maintenance des succursales	467 millions de dollars
Équipement de succursale	665 millions de dollars

Frais de conformité réglementaire

TD Bank a dépensé 624 millions de dollars en conformité réglementaire et en gestion des risques en 2023.

• Coûts de personnel de conformité: 276 millions de dollars
• Systèmes de rapports réglementaires: 189 millions de dollars
• Services juridiques et consultatifs: 159 millions de dollars

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing totales pour TD Bank en 2023 étaient de 517 millions de dollars.

Catégorie de dépenses de marketing	Montant (CAD)
Marketing numérique	213 millions de dollars
Publicité médiatique traditionnelle	187 millions de dollars
Programmes d'acquisition de clients	117 millions de dollars

The Toronto-Dominion Bank (TD) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et hypothèques

Pour l'exercice 2023, TD Bank a déclaré un revenu net d'intérêts de 24,3 milliards de CAD. Les prêts hypothécaires résidentiels ont contribué environ 9,8 milliards de CAD à ce total.

Catégorie de prêt	Revenus (CAD Billions)	Pourcentage de revenus d'intérêt
Hypothèques résidentielles	9.8	40.3%
Prêts commerciaux	7.5	30.9%
Prêts personnels	4.2	17.3%
Autres types de prêts	2.8	11.5%

Frais de service bancaire

La banque TD a généré 4,6 milliards de frais de service pour l'exercice 2023.

• Frais de compte bancaire personnel: 1,8 milliard de CAD
• Frais de service bancaire d'entreprise: 1,3 milliard de CAD
• Frais de transaction: 0,9 milliard de CAD
• Autres services bancaires: 0,6 milliard de CAD

Frais d'investissement et de gestion de la patrimoine

Le segment de la gestion de la patrimoine TD a généré 3,2 milliards de CAD de revenus basés sur les frais pour 2023.

Service d'investissement	Revenus (CAD Millions)
Gestion des fonds communs de placement	1,250
Services consultatifs	890
Planification de la retraite	670
Services de transfert de richesse	390

Revenus de transaction de carte de crédit

Le segment des cartes de crédit de TD Bank a généré 2,1 milliards de redevances de transaction pour 2023.

• Frais d'échange: 1,4 milliard de CAD
• Frais de carte annuels: 0,4 milliard de CAD
• Frais de paiement en retard: 0,3 milliard de CAD

Commissions de produits d'assurance

L'assurance TD a généré 1,5 milliard de dollars de revenus de commission pour 2023.

Produit d'assurance	Revenus de la Commission (MAD Millions)
Assurance automobile	650
Assurance habitation	450
Assurance-vie	250
Assurance voyage	150

The Toronto-Dominion Bank (TD) - Canvas Business Model: Value Propositions

You're building a financial institution that aims to be indispensable across North America, which means delivering on scale, convenience, and deep, personalized service. Here are the concrete numbers that define The Toronto-Dominion Bank (TD)'s value propositions as of late 2025.

The Unexpectedly Human Experience: A connected customer experience (CCX) across all channels

The focus here is on making every interaction feel personal and efficient, using technology to bridge the gap, not widen it. This is about delivering on the promise of humanity in banking.

• TD Bank deployed the TD AI Prism platform internally, which predicts consumer needs and boosts cross-selling by up to 30%.
• The bank implemented approximately 75 AI use cases in fiscal 2025, which generated $170 million in value.
• TD Bank was recognized by Celent as a 2025 Model Bank for Customer Centered Innovation for its TD Small Business Dashboard and Tap to Pay on iPhone solutions.
• Canadian Personal Banking achieved record year-to-date digital sales in personal chequing, savings, and cards combined in Q3 2025.
• TD serves over 17 million active online and mobile customers across its global operations as of January 31, 2025.
• In Canada, TD has over 8 million active mobile users.

North American Scale and Convenience: Operating as America's Most Convenient Bank

This value proposition rests on sheer footprint and accessibility across the continent. You can find The Toronto-Dominion Bank almost anywhere you need them.

Metric	Value (as of early/mid-2025)
North American Ranking by Assets	Sixth largest bank in North America
Total Customers Served (North America)	Over 27.9 million
U.S. Retail Customers Served	Over 10 million (in stores from Maine to Florida)
Total Assets	$2.09 trillion (as of January 31, 2025)
Canadian Branches & Offices	2,197
Total ATMs	5,949
Brand Value (Brand Finance Banking 500 2025)	USD17.4 billion (for the Canadian entity)

Integrated Financial Solutions: Seamless cross-referrals between banking, wealth, and insurance

The goal is to ensure that when a client needs wealth advice or insurance, they are seamlessly connected within The Toronto-Dominion Bank ecosystem. This integration is showing up in the results.

• The Wealth Management and Insurance segments posted net income of $699 million in Q4 2025, an increase of $350 million year-over-year.
• TD Advice recorded strong asset growth in Financial Planning, showing clients leverage integrated wealth and insurance solutions.
• Cross-referrals between personal banking, wealth management, and insurance are noted as continuing to drive revenue.
• TD employs 1,200 wealth advisors in Canada and an additional 500 in the U.S.
• The Toronto-Dominion Bank serves approximately 6 million customers across the wealth and insurance businesses in Canada.

Specialized Wholesale Expertise: Full-service capital markets and advisory via TD Securities and TD Cowen

For institutional and corporate clients, The Toronto-Dominion Bank offers deep capital markets capabilities, evidenced by recent performance and industry recognition.

Metric/Award	TD Securities / TD Cowen Data (Q4 2025)
Wholesale Banking Revenue (Q4 Adjusted)	Record $2,200 million (up 24% year-over-year)
Wholesale Banking Net Income (Q4 Adjusted)	Record $529 million (up 77% year-over-year)
TD Cowen U.S. Corporate Access Ranking (Extel Survey 2025)	Advanced to No.6
TD Cowen Sector Ranking (Extel Survey 2025)	No.1 in the Healthcare sector
TD Securities Award (2025 Euromoney Awards)	Named Canada's Best FX Bank
TD Cowen Survey Sample Size (HCM 2025)	4,670 respondents evaluated

Digital Innovation: Tools like the TD Small Business Dashboard and Tap to Pay on iPhone

Digital tools are not just for efficiency; they are a core part of the value proposition, especially for business clients seeking streamlined operations.

• The TD Small Business Dashboard and Tap to Pay on iPhone capabilities earned The Toronto-Dominion Bank the Celent 2025 Model Bank Award for Customer Centered Innovation in Business Banking.
• The bank migrated petabytes of data to the cloud to unlock insights for more personalized customer experiences.
• TD's AI virtual assistant reportedly led to a 12% drop in call center volume (reported December 5, 2025).

Finance: review Q4 2025 Wholesale Banking revenue growth against Q4 2024 for the next strategic review deck by next Tuesday.

The Toronto-Dominion Bank (TD) - Canvas Business Model: Customer Relationships

You're looking at how The Toronto-Dominion Bank (TD) deepens ties with its massive client base as of late 2025. The core strategy revolves around delivering consistent experiences and targeted advice across all channels. This focus on relationship deepening was a key pillar highlighted at their 2025 Investor Day.

Connected Customer Experience (CCX): Providing choice, consistency, and continuity across touchpoints.

The Toronto-Dominion Bank serves over 28.1 million customers globally, with more than 18 million active online and mobile customers as of late 2025. The goal here is seamless movement between digital and human channels. In the Wealth Management business, which served almost 2.7 million clients in Q4 2025, this continuity is crucial for high-value interactions. The bank is also investing heavily in digital modernization, which supports this experience.

Dedicated Advisory Model: Deploying more wealth advisors and business bankers for high-touch service.

For clients needing more personalized attention, The Toronto-Dominion Bank maintains a significant human touchpoint network. You can see the scale in the numbers below. This deployment supports the strategy of delivering tailored advice, which is a clear differentiator from purely digital offerings. Honestly, having this many advisors ready to connect virtually, by phone, or in-person is a major resource.

Relationship Metric	2025 Data Point
Total TD Wealth Advisors (Canada)	2500+
Wealth Management Clients Served (Q4 2025)	Almost 2.7 million
Canadian Personal Bank to Wealth Referrals	Record closed referrals in fiscal 2025
SBA Lending Ranking (U.S. Footprint)	No.1 for the ninth consecutive year in 2025

AI-Driven Personalization: Using TDAI Prism to deliver accelerated, tailored client insights.

The internal development of the TD AI Prism platform is a clear move to make personalization scalable. This generative AI-driven platform is designed to proactively predict consumer needs. The impact is tangible: marketing teams use it to target communications, such as identifying consumers looking for a mortgage. The bank implemented 75 artificial intelligence (AI) use cases in 2025, which generated 170 million Canadian dollars in value. Furthermore, the deployment of TD AI Prism specifically boosted cross-selling by up to 30%. The bank expects these AI investments to generate 200 million Canadian dollars in incremental value in 2026.

It's not just about sales; AI is also improving risk management. Fraud losses were down 26% year-over-year in fiscal 2025 due to modernization efforts, including machine learning enhancements to transaction monitoring systems.

Community-Focused Sponsorships: Building brand trust and local engagement.

Brand trust is built through community investment, which is channeled primarily through the TD Ready Commitment platform. This platform has a target of C$1 billion committed to community giving and colleague engagement by 2030. The TD Charitable Foundation, the bank's giving arm, has contributed over $361 million to nonprofits since its inception in 2002. For example, in March 2025, TD donated over $1 million across three initiatives focused on financial literacy and skills development. The 2024 TD Ready Challenge, which supports innovative solutions for underserved small business owners, awarded $10 million across 10 organizations.

• TD Ready Commitment focus areas: Financial Security, Vibrant Planet, Connected Communities, and Better Health.
• TD Charitable Foundation total contributions since 2002: Over $361 million.
• 2024 TD Ready Challenge grants awarded: 10 organizations received $1 million each.
• TD Bank Group earned the 2025 Great Places to Work Certification™ for the tenth year in a row.

High-Touch Private Banking: Bespoke solutions for mass affluent and technology founders.

For the highest-tier clients, TD Wealth Private Client Group offers a dedicated team structure. This group is specifically available to clients who maintain $750,000 or more in investible assets and $3 million or more in net worth (excluding real estate). These clients receive personalized support from a Relationship Manager, an investment advisor, a planning specialist, and private client banking professionals. The overall Wealth Management business saw record earnings and total assets exceeding a record $1.3 trillion in Q4 2025.

Finance: draft Q1 2026 client engagement forecast by end of January.

The Toronto-Dominion Bank (TD) - Canvas Business Model: Channels

The Toronto-Dominion Bank (TD) employs a multi-channel strategy to reach its customer base of over 28.1 million clients globally across its four key businesses as of late 2025.

Physical Branch Network

The physical branch network remains a core channel, strategically positioned for complex advice, though undergoing optimization. As of Q3 2025, TD Bank had 2,151 retail locations in North America. The U.S. Retail Bank, operating under the TD Bank, America's Most Convenient Bank® brand, provided services through approximately 1,100 convenient locations across the Northeast, Mid-Atlantic, Metro D.C., the Carolinas, and Florida as of July 31, 2025. This network is being reshaped from transaction hubs to high-value advice centers. The bank has announced plans to close 51 branches by the end of January 2026 as part of this optimization.

Digital Banking Platforms

Digital channels are a major focus for acquisition and service delivery. TD also ranks among North America's leading digital banks, serving more than 13 million mobile active users across Canada and the U.S. as of October 31, 2025. The bank has a stated goal to increase digital adoption to 70%. The Canadian Wealth Management division boasts Canada's #1 direct investing platform. Furthermore, TD Insurance reported that over 46% of its new sales in Q2 2025 were completed digitally from end-to-end.

ATM Network

The self-service distribution is extensive across North America. The total number of ATMs across the TD Bank Group was reported at 5,949 as of January 31, 2025. For the U.S. Retail segment specifically, the number of ATMs was reported as 2,561 in a recent filing.

Here is a summary of the physical distribution footprint based on recent reporting:

Channel Metric	Reported Number	As of Date/Period
Total TD Bank Group Branches & Offices	2,197	January 31, 2025
TD Bank U.S. Retail Locations	1,100	Q3 2025
TD Bank U.S. Retail Locations (Total North America)	2,151	Q3 2025
Total TD Bank Group ATMs	5,949	January 31, 2025
TD Bank U.S. Retail ATMs	2,561	October 1, 2025 filing

Contact Centers

Centralized support is provided through contact centers, which are increasingly integrating advanced technology. Jo Jagadish serves as the Head of Digital Banking and U.S. Contact Centers. Industry prediction suggests that generative AI will be used by 80% of customer service and support organizations to improve customer experience and agent productivity by the end of 2025.

Dedicated Sales Teams

Specialized sales teams drive advice-based and complex sales across segments. The U.S. Retail Bank serves over 10 million customers, supported by dedicated teams of bankers. TD announced plans to double its hiring of wealth advisers. Within TD Wealth, Financial Planners are focused on delivering exceptional client outcomes. The Wholesale Banking group serves over 17,000 corporate, government, and institutional clients globally.

• TD Insurance is the #1 direct-to-consumer insurer in Canada.
• Wealth Management has the fastest-growing private wealth management business in Canada.
• The bank is focused on enhancing front-line productivity.

The Toronto-Dominion Bank (TD) - Canvas Business Model: Customer Segments

The Toronto-Dominion Bank (TD) Bank Group serves over 28.1 million customers across its four key businesses as of late 2025. The bank also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers.

Customer Segment	Key Metric/Data Point	Value/Amount
Canadian Personal and Commercial Banking	Q4 2025 Net Income	$1,865 million
Canadian Personal and Commercial Banking	Q4 2025 Record Revenue	$5,305 million
Canadian Personal and Commercial Banking	Customers Served	Over 15 million
U.S. Retail	Households and Businesses Served	Over 10 million
U.S. Retail	Q4 2025 Net Income	$719 million (US$520 million)
U.S. Retail	Total Asset Size (End of Fiscal 2025)	US$382 billion (down 11% YoY)
Wealth Management and Insurance	Q4 2025 Net Income	$699 million
Wealth Management and Insurance	Total Assets (Q4 2025)	Exceeding a record $1.3 trillion
Wealth Management and Insurance	Q4 2025 Record ETF Sales	$1.6 billion
Wholesale Banking	Q4 2025 Record Revenue	$2,200 million
Wholesale Banking	Q4 2025 Adjusted Net Income	Record $529 million
Wholesale Banking	Corporate, Government, and Institutional Clients	Over 17,000

For Canadian Personal and Commercial Banking, you are serving retail customers and small-to-medium enterprises, with Canadian Business Banking reporting strong loan growth from commercial lending. Canadian Personal Banking saw a record year in digital sales for day-to-day banking products.

In U.S. Retail, the bank is one of the 10 largest in the U.S. by assets. The segment focuses on personal, business banking, and wealth management operations. The bank ranked No.1 for the ninth consecutive year in total number of approved U.S. Small Business Administration loans in its Maine to Florida footprint.

Wealth Management and Insurance targets specific tiers of clients:

• Mass affluent and high-net-worth individuals.
• Private Wealth Management requires a minimum investment of CDN $1,000,000 or more in investable assets.
• Financial Planning services require a minimum investment of CDN $100,000 or more in investable assets.
• TD Insurance launched a next generation usage-based insurance program.

Wholesale Banking, operating under the TD Securities brand, offers capital markets and corporate and investment banking services globally. TD Cowen, part of this segment, advanced to No.6 in the U.S. Corporate Access 2025 Extel Survey.

The segment for Technology Entrepreneurs is served by the specialized TD Innovation Partners team, though specific customer counts or financial metrics for this group weren't explicitly detailed in the Q4 2025 results summaries.

For fiscal 2025, TD delivered adjusted net income of $15.03 billion.

The Toronto-Dominion Bank (TD) - Canvas Business Model: Cost Structure

You're looking at the major drains on The Toronto-Dominion Bank (TD) Group's bottom line as of late 2025. The cost structure is heavily influenced by necessary regulatory clean-up and ongoing investment in future capabilities, so let's break down the hard numbers.

Employee Compensation

Personnel costs represent a significant, fixed component of the cost base, supporting a large global operation. As of October 31, 2025, The Toronto-Dominion Bank had approximately 100,000 colleagues worldwide.

The expense structure reflects this scale, with compensation being a primary driver of operating costs. For example, reported non-interest expenses for Q4 2025 were $8.81 billion, an increase of 9% year-over-year, with about one-third of that growth driven by variable compensation and employee-related expenses.

Regulatory and Compliance Costs

Remediation efforts continue to be a major, non-discretionary cost center, particularly in the U.S. operations. For the full fiscal year 2025, total U.S. Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) remediation and governance and control investments totaled $507 million.

These costs are a direct result of past compliance failures. The bank expects to incur similar investments in fiscal 2026.

Technology and AI Investment

The Toronto-Dominion Bank is actively spending to modernize its infrastructure, which includes cloud migration and embedding artificial intelligence (AI) across the enterprise. This investment is aimed at creating efficiency and driving future value, not just covering current costs.

In fiscal 2025, The Toronto-Dominion Bank Group implemented 75 artificial intelligence (AI) use cases. These implementations generated approximately CAD 170 million (about $122 million) in value during the year. The bank anticipates this will grow, projecting CAD 200 million (about $143 million) in incremental value from AI in 2026.

The focus areas for these technology investments include:

• Customer acquisition.
• Customer insights.
• Risk management, including fraud modernization.
• Enhancing U.S. AML remediation efforts.

Provision for Credit Losses (PCL)

The Provision for Credit Losses (PCL) reflects the bank's assessment of credit risk in its loan portfolios. For the fourth quarter of 2025, the bank's provision for credit losses was stable quarter-over-quarter at 41 basis points on an adjusted basis.

For the full fiscal year 2025, the PCL rate was reported as 47 basis points, which was stable year-over-year.

Here's a look at the reported PCL dollar amounts for Q4 2025 across key segments:

Segment	Q4 2025 Reported PCL ($MM)	Q4 2024 Reported PCL ($MM)
Canadian Personal and Commercial Banking	537	430 (Calculated: 537 - 107 increase)
U.S. Retail (Reported)	304 (Adjusted basis)	389 (Adjusted basis)
Total Reported PCL	982	1,109 (Calculated: 982 - 127 decrease)

The Q4 2025 reported PCL of $982 million was a decrease of 11% from $1.11 billion in Q4 2024.

Restructuring Charges

The Toronto-Dominion Bank is executing a multi-quarter restructuring program to reduce its structural cost base and create capacity for investment. This involves employee severance, asset impairment, and real estate optimization.

The financial impact of this efficiency drive was clear in the third and fourth quarters of 2025:

• Q3 2025 pre-tax restructuring charges: $333 million.
• Q4 2025 pre-tax restructuring charges: $190 million.
• The program is expected to conclude in Q1 2026 with total pre-tax charges of approximately $825 million.

The expected benefit from this entire program is an annual run rate cost saving of approximately CAD 750 million pre-tax.

The Toronto-Dominion Bank (TD) - Canvas Business Model: Revenue Streams

You're looking at The Toronto-Dominion Bank (TD) revenue streams as of late 2025, and the headline number for the full fiscal year is significant: Reported Revenue was $48.39 billion (CAD).

This total revenue figure is the sum derived from the bank's diversified operations across its major segments. To understand where that money comes from, we break it down into the core components that drive the top line.

Net Interest Income (NII): Revenue from lending activities minus interest paid on deposits.

This is the bread and butter for The Toronto-Dominion Bank (TD), reflecting the spread earned on its massive loan and mortgage book versus the cost of funding those assets through customer deposits. For the fourth quarter of fiscal 2025, the Canadian Personal and Commercial Banking segment alone generated $4,304 million in Net Interest Income. Furthermore, the strategic repositioning of the investment portfolio provided an estimated NII benefit of approximately $500 million (pre-tax) for the full fiscal year 2025.

Non-Interest Income: Fees, service charges, and wealth management fees.

This stream captures the revenue generated when The Toronto-Dominion Bank (TD) is not acting as a lender or borrower. It's driven by transactional activity and asset management. For instance, in the fourth quarter of 2025, the Canadian Personal and Commercial Banking segment recorded $1,001 million in Non-Interest Income. The strength in fee-based services was also evident in Wealth Management, which saw record sales of $1.6 billion in ETFs during that same quarter.

Here's a snapshot of how some revenue components looked in the fourth quarter of fiscal 2025 (all figures in millions of Canadian dollars):

Revenue Stream Component	Q4 2025 Amount (CAD)	Segment Context
Canadian Personal and Commercial Banking Net Interest Income	4,304	Lending activities spread
Canadian Personal and Commercial Banking Non-Interest Income	1,001	Fees and service charges
U.S. Retail Revenue	3.45 billion	Total revenue for the U.S. retail segment
Wealth Management and Insurance Revenue	3.79 billion	Total revenue for the division
Wholesale Banking Revenue	2.2 billion	Global markets and investment banking

Trading Income: Revenue generated from Wholesale Banking's global markets activities.

This is directly tied to the performance of The Toronto-Dominion Bank (TD)'s Wholesale Banking division, which includes Global Markets and Corporate and Investment Banking. The fourth quarter of 2025 showed robust activity here, with Wholesale Banking revenue climbing 24% year-over-year to reach $2.2 billion for that quarter. This indicates strong client activity in capital markets, which is a key driver of non-interest income.

Insurance Premiums: Revenue from property and casualty, life, and health insurance products.

While The Toronto-Dominion Bank (TD)'s insurance operations are integrated within the Wealth Management and Insurance segment, the premium intake is a distinct revenue source. In the fourth quarter of 2025, the combined division's revenue was $3.79 billion, though this figure was impacted by reinsurance recoveries related to catastrophe claims. The bank launched a next generation usage-based insurance program and mobile app during 2025, aimed at rewarding safe driving.

You can see the mix of income sources contributing to the overall performance:

• Canadian Personal and Commercial Banking revenue for Q4 2025 was a record $5.31 billion.
• Wealth Management and Insurance net income for Q4 2025 was $699 million, up $350 million year-over-year.
• The bank's adjusted diluted earnings per share for the full year 2025 reached $8.37.
• Reported net income for the full year 2025 was $20,538 million.

Finance: draft 13-week cash view by Friday.