Toronto Dominion Bank has seen its profit soar 29% recently.CEO Ed Clark said they really like the firm's business mix.They are 85% retail and 15% wholesale.Their trading revenues were down,but retail earnings were up.While wholesale income fell 45%,the U.S. division's revenue grew 17%.TD is the only bank that grows its loans every quarter,Mr.Clark asserts.
TD Bank is open about 50% more hours than anyone else.They generally like to keep the loans on their books.If they do sell them off,they like to have a servicing agreement so they can still serve their clients.The AAA-rated bank has reoriented its wholesale business to be conservative,not take risks,Ed Clark maintains.
Toronto Dominion Bank(TD)
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