Few things in the world speak as loudly as money.
In turn, few institutions are as successful or as lucrative as those that handle finances. From financing and wealth management to basic retail banking, TD Bank Group has certainly mastered the art of finance.
Headquartered in Toronto, TD Bank Group serves both the United States and Canada with a growing presence in each of the countries.
A Clear Vision
There’s nothing confused about TD Bank Group’s approach to their work. It can easily be outlined in three distinct categories: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian and American versions of the institution contain their own specific offerings.
In Canada, TD Bank Group even offers insurance coverage, which is not an option in the United States. Other than that, business banking, wealth management, and auto financing are some of the most universal offerings from TD Bank Group.
150 Years of Service
Because there are two distinct arms of TD Bank Group (the Canadian and American sectors), it’s important to follow the company’s history back to its Canadian roots, as the American portion was acquired much later.
The earliest iteration of TD Bank Group was founded in 1855 as The Bank of Toronto when Canada’s grain industry was beginning to become quite lucrative. Less than ten years later, The Dominion Bank also opened in Canada and spread across the country.
About a century after opening, these two institutions decided to merge in the middle of the 20th century to form TD Bank Group. In the 1990s, TD Bank Group made a series of acquisitions in America that led to its expanding South of the Canadian border.
Today, TD Bank Group operates all across Canada and primarily down the Eastern seaboard of the United States. As their reach grows, so does the potential for this historically successful institution.
A League of Its Own
Because TD Bank Group was formed when two of Canada’s largest institutions joined hands, few other Canadian banks can hold a candle to this one. The closest competitor probably comes in the form of SunTrust Banks, but even their profit is only about a quarter of TD Bank’s.
In America, TD Bank Group has clawed their way toward visibility with the slogan “America’s Most Convenient Bank,” and although they’re not quite a household name yet, it appears they might make a dent in U.S. market share.
Questions over Quotas
As has happened before with financial institutions, TD Bank Group faced controversy in 2017 when it came to light that employees had made unauthorized moves to increase customers’ credit lines, overdraft protection, and other such services as a way to make it appear as if they had met sales quotas.
TD Bank explained that they were taking the allegations seriously, and the damage has clearly not been lasting since they currently rank at 295 on the Fortune Global 500.
With 150 years behind them, the possibilities for TD Bank Group appear virtually endless for the future as the company only continues to grow.