TD Bank, N.A

Last Updated on 3 weeks by General

TD Bank National Association (N.A.) stands as an American national bank and serves as the United States subsidiary of the globally operating TD Bank Group. Established in January 1852 in Portland, ME, TD Bank, N.A. has its headquarters situated in Cherry Hill, NJ with Leo Salom as its CEO since January 1, 2022. TD Bank, N.A operates under the parent organizations Toronto-Dominion Bank and TD Bank US Holding Company, boasting a workforce of over 26,000 employees and a network of more than 1,220 locations. For customer service inquiries, individuals can contact 1 (888) 751-9000.

TD Bank N.A Photo 1
TD Bank N.A Photo 1

TD Bank, NA, which is the subsidiary of The Toronto-Dominion Bank and the sixth-largest bank in the United States, boasts a significant presence in the North American banking landscape. With over $420 billion in deposits and a network of more than 1,100 branches, TD Bank offers a diverse range of financial products and services, covering personal and business banking, lending, and investment services.

In the US consumer banking market, TD Bank stands out as a major player, holding the fifth-largest credit card portfolio with over $90 billion in outstanding balances. The bank is also a significant force in the auto loan sector, ranking ninth with over $50 billion in outstanding auto loans.

In the commercial banking arena, TD Bank maintains its prominence with the seventh-largest commercial loan portfolio, exceeding $200 billion, and the eighth-largest small business loan portfolio, totaling over $50 billion.

A leader in digital banking, TD Bank’s mobile app has garnered popularity, boasting over 10 million active users, while online banking attracts more than 15 million active users.

Competing with giants like JPMorgan Chase, Bank of America, and Citigroup in the consumer banking market, TD Bank also faces competition from smaller banks and credit unions, known for personalized service and lower fees. The rise of online banks and fintech companies has added to the competitive landscape, offering various products and services at more attractive fees.

In terms of financial performance, TD Bank maintains a robust position. In 2022, its net income margin (NIM) of 1.7% surpasses the average for US banks (1.5%), reflecting solid profitability. The return on assets (ROA) stands at 1.0%, higher than the industry average of 0.9%, indicating efficient operations. Furthermore, the Tier 1 capital ratio, a measure of capital strength, stands at a commendable 11.5% at the end of 2022, well above the regulatory minimum of 4.5%. Overall, TD Bank, NA, remains well-managed and strategically positioned to thrive in the competitive US banking market, emphasizing digital expansion and branch network investment.

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