TD Bank Group Suspends Medium-term Financial Targets

Toronto-Dominion Bank

52.91 USD -0.25%

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Kaufen / Verkaufen

(RTTNews) - TD Bank Group (TD.TO) said the Bank is currently undertaking a strategic review of organic opportunities and priorities, productivity and efficiency initiatives, and capital allocation alternatives. As a result, TD is suspending its medium-term financial targets of: 7-10% adjusted EPS growth, 16%+ return on equity and positive operating leverage. The Bank expects to update its medium-term financial targets in the second half of 2025.

TD Bank Group said, for fiscal 2025, it will be challenging for the Bank to generate earnings growth as it navigates a transition year, advances AML remediation with investments in its risk and control infrastructure, and continues to invest in its businesses.

"TD faced challenges in 2024, but we have a strong Bank, with well-positioned businesses serving millions of customers. Our AML remediation is our top priority, and we remain focused on strengthening our risk and controls to meet our obligations," said Raymond Chun, COO, TD Bank Group.

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