Toronto-Dominion Bank · TSX:TD
Toronto-Dominion Bank — Shareholder Meeting (March 2012)
69 slides from Toronto-Dominion Bank's shareholder meeting presentation, Mar 29, 2012
Slide 1: The Better Bank
The Better Bank March 29, 2012 | Glenn Gould Studio | Toronto, Ontario (simulcast in New York, New York from the Grand Hyatt New York)
Slide 2: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 3: Simultaneous interpretation notice
Les actionnaires pourront poser des questions ou formuler des commentaires en anglais ou en français, les deux langues officielles du Canada. À Toronto, des casques d’écoute pour l’interprétation simultanée étaient disponibles dans le hall d’entrée ainsi que sur des tables dans la salle de l’assembl
Slide 4: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 5: Forward-looking statements
From time to time, the Bank makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the U.S. Securities and Exchange Commission, and in other communications. In addition, representatives of the Bank may make forward-looking state
Slide 6: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 7: The Better Bank
The Better Bank
Slide 8: Top US banks by assets
1. Based on SNL 'Top 50 US banks & thrifts by assets' (March 26, 2012) excluding custody banks
Slide 9: Bank ranking by market capitalization
1 Wells Fargo 180.1 2 JP Morgan Chase 175.1 3 HSBC 160.5 4 Citigroup 107.6 5 Bank of America 104.1 6 Royal Bank 84.3 77 TD TDBank Bank 76.7 8 Banco Santander 69.9 9 Scotia Bank 64.4 10 US Bancorp 60.7 1. Source: Bloomberg March 28, 2012
Slide 10: TD a Canadian champion
TD a Canadian champion
Slide 11: Today
Today 1. Source: SNL Financial, FDIC June 2011 Data - Branches are capped at $500MM in deposits to limit the impact of main office, institutional and escrow deposits when comparing retail branch networks - New York City includes the five boroughs of Manhattan, Bronx, Brooklyn, Queens and Staten Isla
Slide 12: Tomorrow
NYC point of pride 3rd largest re ail bank in NY J f ZF | ; | ~140 store ic 4 - in total f x
Slide 13: Earnings and EPS compound annual growth rate
18% 14% Adjusted Adjusted Earnings EPS 1. Based on adjusted earnings between 2002- 2011. The Bank’s financial results prepared in accordance with GAAP are referred to as “reported” results. The Bank also utilizes non-GAAP financial measures referred to as “adjusted” results (i.e., reported results e
Slide 14: Deposit rating as of October 2007
1. LT Deposit Rating of The Toronto-Dominion Bank as of October 31, 2007
Slide 15: Deposit rating as of March 2012
1. LT Deposit Rating of The Toronto-Dominion Bank as of March 26, 2012
Slide 16: Adjusted earnings growth 2007-2011
$6.3 $5.2 $4.7 $4.2 20% $3.8 YoY 2007 2008 2009 2010 2011 1. Refer to the definition of adjusted results in footnote 1 on slide titled “2002-2011 Compound annual growth rate” . TD earnings on a reported basis were $4.0 billion, $3.8 billion, $3.1 billion, $4.6 billion and $5.9 billion respectively b
Slide 17: Adjusted EPS growth versus peers
$6.82 18.2% $5.77 14.3% 18% YoY 3.0% 2010 2011 3 4 1. Canadian banks based on fiscal year and US Banks based on calendar year. All figures in local currency 2. Refer to the definition of adjusted results in footnote 1 on slide titled “2002-2011 Compound annual growth rate”. TD EPS on a reported basi
Slide 18: Return on risk-weighted assets versus peers
2.95% 2.25% 1.55% 3 4 1. Canadian banks based on fiscal year. US Banks based on calendar year. All figures are in local currency 2. Refer to the definition of adjusted results in footnote 1 on slide titled “2002-2011 Compound annual growth rate” . TD’s reported RRWA was 2.78% in 2011. Peers adjusted
Slide 19: Earnings by business segment
$3.6B $1.3B $776M $41B +$3B $813M 1. Refer to the definition of adjusted results in footnote 1 on slide titled “2002-2011 Compound annual growth rate” . TD US P&C 2011 earnings on a reported basis was $1,256 million 2. Wealth Management earnings includes earnings from our investment in TD Ameritrade
Slide 20: Share performance versus Canadian banks
1. Based on Big 5 Canadian Banks 2. Starting from Oct 31 2002, ending March 28 2012
Slide 21: Total return tripled
$3,620 $1,000 More than Tripled 2002 Q1-2012 1. Represents growth of an investment of $1,000 in TD common shares from October 31, 2002 to January 31, 2012 assuming reinvested dividends
Slide 22: Total shareholder return versus peers
$3,620 $3,127 $2,904 $2,673 $2,337 $2,278 $1,920 $1,855 $1,503 $279 $106 TD BNS CM RBC JPM BMO PNC USB WFC BAC C 1. Represents growth of an investment of $1,000 in common shares from October 31, 2002 to January 31, 2012 2. All figures are denominated in local currency and based on dividend reinvestm
Slide 23: Simple strategy
Simple strategy True franchises | lavesting, in the suture oe. ee eee ee
Slide 24: US loan growth versus largest US banks
50% -1% TD Bank Largest US AMCB Banks 2 3 1. US P&C is reported on a fiscal quarter basis while peers are reported on a calendar quarter basis. 2. Gross loans and leases in USD as of December 31, 2011 compared to December 31, 2007. December 31, 2011 loan balances exclude impact of FAS 166 and FAS 16
Slide 25: Canadian consumer lending growth versus peers
51% 30% TDCT 1 Peers 2 1. TDCT 2007 consumer lending volumes have been restated to exclude average multiple-unit residential (MUR) mortgages. 2. Based on composite of BMO, BNS, CIBC and RBC public disclosure. CIBC's results are based on certain assumptions.
Slide 26: Market share growth
15.8% +320 bps +120 bps -440 bps 25% growth in market share 2011 Big 4 Other3 Banks 1. TD Volumes have been adjusted to include multiple-Unit Residential (MUR) mortgages and Business Visa Credit Card Volume 2. Based on CBA 3. Other excludes the Big 5 Canadian Banks and Credit Unions
Slide 27: The Better Bank
The Better Bank
Slide 28: Simple strategy
Simple strategy True franchises Conservative risk management philosophy lavesting, im the future
Slide 29: Simple strategy
Simple strategy o | True franchises i, Conservative risk management philosophy Legendary service and convenience SA lavesting im the tuiure
Slide 30: Customer service awards
1 2 3 1. TD Canada Trust received the highest numerical score among the big five retail banks in the proprietary J.D. Power and Associates 2011 Canadian Retail Banking Customer Satisfaction StudySM. Study based on 12,740 total responses. Proprietary study results are based on experiences and percept
Slide 31: Simple strategy
Simple strategy
Slide 32: Winning the ties
Slide 33: Simple strategy
Simple strategy fa True franchises Conservative risk management philosophy Legendary service and convenience Investing in the future
Slide 34: Simple strategy
Simple strategy True franchises Conservative risk management philosophy | Legendary service and convenience Investing in the future
Slide 35: Q1 2012 earnings by segment
Total Bank adjusted1 C$ 1.8 B 9% Reported 1.5 B Canadian P & C1 2 C$ 850 MM 11% Reported 826 MM U.S. P & C1 US$ 345 MM 6% Reported 165 MM Wealth & Insurance2 C$ 349 MM 14% Wholesale Banking C$ 194 MM 17% 1. Based on Q1/12 adjusted earnings. For the purpose of calculating contribution by each busines
Slide 36: The Better Bank
The Better Bank
Slide 37: = and
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Slide 38: Customers, outlets, employees, assets and share price
Customers Retail outlets Employees Assets and deposits Share price 1. Source: Company Reports 2. As of January 31, 2012
Slide 39: The Better Bank
The Better Bank
Slide 40: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 41: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 42: 2012 Director Nominees
2012 Director Nominees Annual General Meeting March 29, 2012 | Glenn Gould Studio | Toronto, Ontario (simulcast in New York, New York from the Grand Hyatt New York)
Slide 43: Bill Bennett
Bill Bennett Chicago, Illinois
Slide 44: Hugh Bolton
Hugh Bolton Edmonton, Alberta
Slide 45: John Bragg
John Bragg Collingwood, Nova Scotia
Slide 46: Amy Brinkley
Amy Brinkley Charlotte, North Carolina
Slide 47: Colleen Goggins
Colleen Goggins Princeton, New Jersey
Slide 48: Hank Ketcham
Hank Ketcham Vancouver, British Columbia
Slide 49: Harold MacKay
Harold MacKay Regina, Saskatchewan
Slide 50: Karen Maidment
Karen Maidment Cambridge, Ontario
Slide 51: Irene Miller
Irene Miller New York, New York
Slide 52: Nadir Mohamed
Nadir Mohamed Toronto, Ontario
Slide 53: Bill Prezzano
Bill Prezzano Charleston, South Carolina
Slide 54: Helen Sinclair
Helen Sinclair Toronto, Ontario
Slide 55: John Thompson
John Thompson Toronto, Ontario
Slide 56: Brian Levitt
Brian Levitt Westmount, Quebec
Slide 57: Ed Clark
Ed Clark Toronto, Ontario
Slide 58: 2012 Director Nominees
2012 Director Nominees Annual General Meeting March 29, 2012 | Glenn Gould Studio | Toronto, Ontario (simulcast in New York, New York from the Grand Hyatt New York)
Slide 59: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 60: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 61: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 62: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 63: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 64: Performance-based compensation
Performance-based compensation
Slide 65: Proposal B: Independence of directors
Proposal B: Independence of directors
Slide 66: Proposal C: Director share ownership
Proposal C: Director share ownership
Slide 67: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 68: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt, Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 69: The Better Bank
The Better Bank March 29, 2012 | Glenn Gould Studio | Toronto, Ontario (simulcast in New York, New York from the Grand Hyatt New York)
Toronto-Dominion Bank — Shareholder Meeting (March 2012) on 6ix