Great Wealth Management Results at Toronto Dominion Bank

Stephen Harris

25 August 2006

Net income at the wealth management division of Toronto Dominion Bank for the third quarter of 2006 was C$152 million ($137 million), an increase of C$53 million, or 54 per cent, year on year. On a year-to-date basis, net income was C$442 million, an increase of $146 million, or 49 per cent from the previous year. The increase in net income for the quarter included C$55 million from TD Ameritrade, compared with net income from TD Waterhouse USA of C$26 million in the third quarter of 2005, which did not recur due to the sale of TD Waterhouse to Ameritrade on January 2006. Assets under management of C$143 billion at 31 July 2006 increased C$13 billion or 10 per cent from 31 October 2005 due to market growth, strong sales of mutual funds and growth in institutional assets.