TD - Toronto Dominion Bank Message Board

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Gold/Mining/Energy : TD - Toronto Dominion Bank

TD 80.94

+0.6%

Nov 7 9:30 AM EST

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To: Zirdu who wrote (37)	8/20/1998 6:33:00 PM
From: Zirdu	of 358

TD reported earnings today after the close. .93 Canadian, vs. .96 last year. Estimates were about .95. What I thought interesting was just how well Waterhouse unit was doing. That has become the engine of growth for TD bank, apparantly. It looks to me as if Waterhouse shareholders would have been better off had Waterhouse remained independent. Here's a few quotes from the TD press release: "Compared to last year, trading activity by our customers at Waterhouse and Evergreen increased by 135% and 17% respectively. In addition, mutual fund revenue this quarter was $16 milliion, or 40% higher than last year.." "Personal loan growth benefited from increases in our Canadian market share as well as growth in Waterhouse where personal loans grew $2.4 billion to $3.5 billion." "Personal non-term deposits increased 14% or $2.8 billion over last year. Waterhouse, which contributed $2.4 billion of this increase, has seen personal deposits more than double over the last year." .

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