TD Bank (NYSE:TD) 2025 Earnings Call Presentation

Financial Performance & Targets - TD's FY24 total reported revenue was $54 billion[11], with Canadian Personal & Commercial Banking contributing ~25%, US Retail ~26%, Wholesale Banking ~13%, Insurance ~14%, and Wealth Management ~11%[11] - The company targets an adjusted ROE of ~13% for FY26 and ~16% in the medium-term (FY29)[26] - The company aims for adjusted EPS growth of 6-8% Y/Y in FY26 and 7-10% in the medium-term[26] - The company plans an incremental NCIB program of ~$6-7 billion upon completing the current NCIB, with a total share buyback of $8 billion in FY26[26] Strategic Initiatives & Efficiencies - The company aims to deliver ~$2-2.5 billion in annualized cost savings through restructuring and non-restructuring programs[56] - The company is focused on AML remediation, with costs expected to be stable through FY26[19] - The company is optimizing capital allocation for shareholder returns, targeting a dividend payout ratio of 40-50%[28] Business Segment Highlights - Canadian Personal Bank aims to increase consumer card penetration from 56% to 63% and SBB card penetration from 33% to 48% in the medium-term[33] - US Retail aims for digital sales to increase from 34% to 50% and digital adoption from 57% to 70% in the medium-term[272] - Wealth Management targets AUA/AUM of ~$1.6 trillion and an adjusted ROE of >60% in the medium-term[332] - TD Insurance aims for double-digit premiums CAGR and an adjusted efficiency ratio (net of ISE) of ~30% in the medium-term[407]