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Colleen Johnston, CFO and Group Head at TD Bank Group (TD), Interviews with The Wall Street Transcript

67 WALL STREET, New York - April 24, 2013 - The Wall Street Transcript has just published its Money Center Banks Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Investing in Regional Banks - Increase In Investor Risk Tolerance - Regulatory Obstacles and Fee Income Replacement - Fiscal Cliff Effects on Banking - Interest Rates and Loan-Growth Strategies - Regulatory Outlook Gains Clarity

Companies include: Toronto-Dominion Bank (TD) and many more.

In the following excerpt from the Money Center Banks Report, the CFO and Group Head of TD Bank Group (TD) discusses company strategy and the outlook for this vital industry:

TWST: Please start by introducing our readers, so to speak, to TD Bank Group with a brief history and an overview of your business today.

Ms. Johnston: We're a large Canadian bank. We're the sixth largest bank in North America. We're largely a retail-oriented bank, with roughly 90% of our earnings coming from retail on both sides of the border, in Canada and in the United States. We have a long history in Canada.

More recently, about eight years ago, we started our expansion into U.S. retail, and we closed our first acquisition of 51% of Banknorth in March of 2005. We've had many follow-on acquisitions, and we've privatized that acquisition. Five years ago, in 2008, we acquired Commerce Bancorp.

So we are a large U.S. bank; we're a top 10 bank in the United States. We have about 1,300 stores in the U.S., which is, in fact, more physical locations than we have in our retail bank in Canada, where we have approximately 1,200. TD has performed very well. We have a conservative risk appetite, and we've posted very strong growth and good total shareholder return.

TWST: Discuss how your revenues break down in terms of the different business lines and subsidiaries.

Ms. Johnston: Why don't I give you more of an earnings view? If you look at our Canadian retail businesses, they comprise about two-thirds of our total earnings, and within that two-thirds you have our Canadian personal and commercial bank - we operate under the name of TD Canada Trust - and that comprises about half of the bank's total earnings.

We have a fantastic retail model. We're the undisputed leaders in service and convenience in Canada. We've had...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.