Toronto-dominion Bank · TSX:TD
Toronto-dominion Bank — TD Bank Group — Q3 2026 Earnings Presentation
45 slides from Toronto-dominion Bank's earnings presentation, Aug 27, 2026
Slide 1: Quarterly Results Presentation
Quarterly Results Presentation TD Bank Group – Q3 2026 – August 27, 2026 Title Slide SECTION ONE
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements From time to time, TD Bank Group ("TD" or the "Bank") makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the United States (U.S.) Securities and Exchange Commission (SEC), and in
Slide 3: Q3 2026 Performance
Q3 2026 Performance Net Income EPS2 PTPP1,3 Growth (YoY) Total Assets Reported: $4.6B Reported: $2.74 Reported: 24.1% $2.1T Adjusted1: $4.7B Adjusted1: $2.77 Adjusted1: 16.9% Efficiency Ratio2 ROE2 ROTCE1,2 CET14 Reported: 50.2% Reported: 15.8% Reported: 19.0% 14.3% Adjusted, Net of ISE1: 55.2% Adju
Slide 4: Strong Momentum Across our Businesses
Strong Momentum Across our Businesses Canadian Personal & Commercial Banking U.S. Banking Record revenue, earnings, deposits and loans Continued progress on AML remediation, our #1 priority Strong Personal Banking day-to-day acquisition, including record Q3 Loans positive sequentially. Excl.
Slide 5: Deeper, Faster, Disciplined
Deeper, Faster, Disciplined Deeper Relationships Simpler & Faster Disciplined Execution Canadian Personal Banking again Over 20,000 client-facing colleagues in Driving structural cost reductions while achieved record penetration rates for Canada now supported by Gen AI Virtual accelerating investmen
Slide 6: Accelerating AI Leadership
Accelerating AI Leadership Focused investment on key transformation initiatives Ahead of pace on AI targets1 Retail End-to- Scale AI across the credit journey to create simpler & Medium-term target value End Credit faster client experiences ~$500MM & ~$500MM Annualized Annualized Software Transform
Slide 7: Q3 2026 Brand and Sustainability Highlights
Q3 2026 Brand and Sustainability Highlights Sustainability Highlights Announced carbon removal agreements with Deep Sky & Climeworks Ranked #1 on TIME’s 2026 Canada’s Recognized as a certified Great Place to Work (U.S.)1 Best Companies List TD Insurance launched exclusive partnership 2025 Sustainabi
Slide 8: U.S. BSA / AML Remediation
U.S. BSA / AML Remediation1 Work on management remediation actions, including demonstrated sustainability, will continue through 2026 and 2027 2024 2025 2026 2027 2028 Internal Audit Validation and Monitor and Regulatory Engagement Following Monitor and Regulatory Review, additional management remed
Slide 9: Q3 2026 Highlights
Q3 2026 Highlights P&L ($MM) Q3/26 QoQ YoY Reported Strong quarter Revenue 16,885 7% 10% EPS of $2.74, up 45% YoY (Adj1 $2.77, up 26% YoY) Insurance Service Expenses (ISE) 1,646 18% 5% Revenue, net of ISE1,2 15,239 6% 11% PTPP1 $8.4B, up 24% YoY (Adj1 $6.3B, up 17% YoY, excl. U.S. strategic PCL 917
Slide 10: Canadian Personal & Commercial Banking
Canadian Personal & Commercial Banking P&L ($MM) Q3/26 QoQ YoY Record revenue, earnings, deposits & loans Revenue 5,517 5% 5% PCL 478 -$20 +$15 Net income up 7% YoY; PTPP1 up 7% YoY Impaired 446 -$19 +$70 Revenue up 5% YoY Performing 32 -$1 -$55 Expenses 2,131 2% 3% Volume growth and higher margin
Slide 11: U.S. Banking
U.S. Banking P&L (US$MM) (except where noted) Q3/26 QoQ YoY Reported Results demonstrate earnings power of Revenue 2,987 8% 13% franchise PCL Impaired 227 234 -$23 -$9 -$4 -$6 Net income up 39% YoY (Adj1 up 11% YoY) Performing (7) -$14 +$2 PTPP1 up 26% YoY (Adj1 up 4% YoY) 1,830 1% 6% Expenses Reven
Slide 12: Wealth Management & Insurance
Wealth Management & Insurance Record revenue, earnings & assets P&L ($MM) Q3/26 QoQ YoY Net income up 20% YoY; PTPP1 up 20% YoY Revenue up 11% YoY Revenue 4,085 8% 11% Insurance Service Expenses (ISE) 1,646 18% 5% Wealth Management: higher fee-based revenues from asset growth and Revenue, net of I
Slide 13: Wholesale Banking
Wholesale Banking Record revenue & earnings P&L ($MM) Q3/26 QoQ YoY Reported Revenue 2,581 8% 25% Net income up 87% YoY (Adj1 up 76% YoY) Global Markets 1,580 3% 23% PTPP1 up 73% YoY (Adj1 up 64% YoY) Corporate & Investment Banking 982 10% 21% PCL 41 -$37 -$30 Revenue up 25% YoY Impaired 6 -$74 -$57
Slide 14: Corporate Segment
Corporate Segment P&L ($MM) Q3/26 Q2/26 Q3/25 Reported net loss of $138MM (Adj1 net loss of $82MM) Reported Reported net loss includes items of note Net Income (Loss) (138) 64 (478) Adjustments for items of note Amortization of acquired intangibles 34 33 33 Restructuring charges - - 333 Impact fro
Slide 15: Capital
Capital1 Disciplined capital and liquidity management QoQ CET1 ratio CET1 ratio 14.3%, down 3 bps QoQ 73 bps Strong adjusted2 earnings net of dividends, partially offset by RWA growth, drove strong adjusted2 organic capital accretion this quarter (30) bps 10 bps 4 bps (22) bps (1) bps Share buyb
Slide 16: Gross Impaired Loan Formations
Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 Highlights 26 27 Gross impaired loan formations decreased 23 22 20 bps 2 basis points quarter-over-quarter, largely reflected in: $2,579 – The U.S. and Canadian Commercial $2,433 lending portfolios $2,177 $371 / $3
Slide 17: Gross Impaired Loans (GIL)
Gross Impaired Loans (GIL) By Business Segment GIL: $MM and Ratios1 Highlights Gross impaired loans decreased 3 basis points 56 56 58 quarter-over-quarter, driven by: 54 51 bps – The U.S. and Canadian Commercial, and Wholesale lending portfolios $5,334 $5,420 $5,594 $5,281 $5,143 $3 / 3 bps $3 / 3
Slide 18: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) By Business Segment Highlights PCL: $MM and Ratios1,2,3 Wealth Management & Insurance PCL decreased 6 basis points quarter- Wholesale Banking over-quarter, reflected across: Canadian Personal & Commercial Banking – Wholesale Banking U.S. Banking (net) – U.S. Banki
Slide 19: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) Impaired and Performing Highlights PCL1 ($MM) Q3/25 Q2/26 Q3/26 Impaired PCLs decreased quarter-over-quarter, primarily recorded across: Total Bank 971 1,001 917 Impaired 904 973 865 ‒ The business & government lending portfolios Performing 67 28 52 Current quar
Slide 20: Allowance for Credit Losses (ACL)
Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 103 101 99 97 96 bps ACL increased $105 million quarter-over-quarter, United States related to: 9.5 9.6 Canada $9.7 $9.7 9.6 ‒ A $128 million impact of foreign exchange ‒ Performing build reflecting volume growth and 55% 55
Slide 21: Appendix
Appendix 20 — TD QUARTERLY RESULTS PRESENTATION
Slide 22: Q3 2026: Items of Note
Q3 2026: Items of Note ($MM) EPS ($) Segment SFI Reference1 Pre-Tax After-Tax Reported net income and EPS (diluted) 4,615 2.74 Items of note Amortization of acquired intangibles 34 25 0.01 Corporate Page 4, L13, L27 & L41 Impact from the terminated FHN acquisition-related capital 41 31 0.02 Corporat
Slide 23: U.S. Strategic Cards Portfolio
U.S. Strategic Cards Portfolio Illustrative Example of Accounting ($MM) Mechanics: Credit Card Portfolio 1,000 • TD collects revenue. • TD establishes a reserve for the total credit losses and a Revenue 150 receivable for the partners' share of credit losses. Credit Losses (50) • TD pays partners th
Slide 24: Q3 2026: PTPP & Operating Leverage
Q3 2026: PTPP1 & Operating Leverage1 Modified for partners' share of SCP PCL, FX and Insurance Service Expense TOTAL BANK Q3 2026 Q2 2026 Q3 2025 SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 16,885 8,475 15,797 8,372 15,297 8,522 Page 2, L3 & L6 1 PTPP1 8,4
Slide 25: Net Interest Income Sensitivity (NIIS)
Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management NII impact from 25 bps change in short-term interest rates1,2 NII impact from 100 bps change in interest rates across the curve1,2 ($ in CAD Q3'26 Q2'26 ($ in CAD Q3'26 Q2'26 MM) +25bps -25bps +25bps -25bps MM)
Slide 26: Digital leadership enables deeper engagement and growth
Digital leadership enables deeper engagement and growth Canada1,2 U.S.1,2 Home & Auto Insurance1 Clients Digitally Engaged Mobile Users (millions)3 Mobile Users (millions)3 (% of total customers)5 +5.4% +0.7% +500 bps 8.9 5.2 5.2 75.9 80.9 8.4 11 6+ 90+ Q3/25 Q3/26 Medium-term Q3/25 Q3/26 Medium-ter
Slide 27: Canadian Personal & Commercial Banking
Canadian Personal & Commercial Banking Margins, Volumes and Efficiency Net Interest Margin (NIM)1 Average Loans ($B)2 594 607 615 618 624 2.88% 129 131 134 136 139 2.83% 2.83% 2.85% 2.82% 464 475 482 482 485 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Personal Commercial Efficiency R
Slide 28: U.S. Banking
U.S. Banking Margins, Volumes and Efficiency Net Interest Margin (NIM)1 Average Loans (US$B)2 180 177 175 173 173 3.47% 3.38% 3.41% 91 87 84 90 83 160 163 164 164 165 3.25% 3.20% 3.19% 89 90 91 84 90 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 1 1 NIM NIM Adj. NIM Adj. excl. Liquidit
Slide 29: Wealth Management & Insurance
Wealth Management & Insurance Volumes and Efficiency Gross Written & Collected Premiums1 ($MM) Average Loans ($B) 2,011 1,927 2,001 9.1 1,502 1,582 8.1 8.3 7.0 7.4 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Efficiency Ratio Average Deposits ($B) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 WM&I 31
Slide 30: Wealth Management & Insurance
Wealth Management & Insurance Wealth Revenue & NIAT ($MM) Wealth Assets ($B) 2,000 831 391 800 797 759 771 316 333 350 709 1,600 299 240 700 644 261 253 216 601 602 617 210 572 653 600 1,200 574 558 557 500 800 521 400 400 300 1,291 1,423 1,228 1,324 1,317 0 200 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q
Slide 31: Wholesale Banking
Wholesale Banking Q3/26 Revenue Q3/26 Loans1 1% 3% 38% $2.6B 46% $111.8B 51% 61% Global Markets Corporate and Other2 Investment Canada United States International Banking 30 — TD QUARTERLY RESULTS PRESENTATION
Slide 32: Gross Lending Portfolio
Gross Lending Portfolio Period-End Balances ($B unless otherwise noted) Q2/26 Q3/26 Canadian Personal and Commercial Portfolio 623.3 632.1 Personal 482.8 488.2 Residential Mortgages 250.8 242.0 Home Equity Lines of Credit (HELOC) 164.2 177.2 Indirect Auto 32.3 33.0 Credit Cards 22.5 23.0 Other Perso
Slide 33: Canadian Real Estate Secured Lending Portfolio
Canadian Real Estate Secured Lending Portfolio Highlights Maturity Schedule ($B)1 Total Canadian real estate secured lending portfolio at $97.9 $422B Variable Rate $97.4 $88.4 $76.9 Fixed Rate $37.6 $18.1 – 90% of RESL portfolio is amortizing4 $26.3 $62.6 $17.3 − 76% of HELOC portfolio is amortizi
Slide 34: Canadian Personal Banking
Canadian Personal Banking Highlights Canadian Personal Banking (Q3/26)1 Gross impaired loans stable quarter-over-quarter Gross Loans ($B) GIL ($MM) GIL/Loans (%) Residential Mortgages 242.0 552 0.23 Home Equity Lines of Credit (HELOC) 177.2 244 0.14 Indirect Auto 33.0 117 0.35 Credit Cards 23.0 18
Slide 35: Canadian Commercial and Wholesale Banking
Canadian Commercial and Wholesale Banking Highlights Canadian Commercial and Wholesale Banking (Q3/26) Gross impaired loans decreased quarter-over-quarter, driven Gross Loans GIL/Loans GIL ($MM) by: ($B) (%) Commercial Banking1 143.9 982 0.68 – Lower gross impaired loans in the Canadian Commercial
Slide 36: U.S. Personal Banking
U.S. Personal Banking Highlights U.S. Personal Banking (Q3/26) Continued good asset quality in U.S. Personal Banking Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%) Residential Mortgages 33.9 388 1.14 Home Equity Lines of Credit (HELOC)1 9.3 235 2.53 Indirect Auto 32.2 2
Slide 37: U.S. Commercial Banking
U.S. Commercial Banking Highlights U.S. Commercial Banking (Q3/26) Gross impaired loans decreased quarter-over-quarter as Gross Loans GIL GIL/Loans resolutions outpaced new formations In USD unless otherwise specified ($B) ($MM) (%) Commercial Real Estate (CRE) 28.4 407 1.43 Non-residential Real E
Slide 38: Provision for Credit Losses – Impaired
Provision for Credit Losses – Impaired1 By Geographic Location Canada U.S. Total Bank Impaired PCL Rate - Personal 0.30% 0.31% 0.32% 0.31% 0.50% 0.51% 0.50% 0.48% 0.26% 1.22% 1.31% 1.31% 0.45% 1.22% 1.18% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Canad
Slide 39: Endnotes on Slides 2 to 3
Endnotes on Slides 2 to 3 Slide 2 1. The Bank prepares its Interim Consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRS), the current generally accepted accounting principles (GAAP), and refers to results prepared in accordance with IFRS as the “repo
Slide 40: Endnotes on Slides 4 to 9
Endnotes on Slides 4 to 9 Slide 4 1. Please refer to Slide 2, Endnote 5. 2. Please refer to Slide 2, Endnote 1. 3. Please refer to Slide 2, Endnote 2. 4. Efficiency ratio (net of ISE) is a non-GAAP ratio. The adjustment of insurance service expense (ISE) provides a measure of efficiency that managem
Slide 41: Endnotes on Slides 10 to 16
Endnotes on Slides 10 to 16 Slide 10 1. Please refer to Slide 2, Endnote 1. 2. Please refer to Slide 3, Endnote 3. 3. Please refer to Slide 2, Endnote 2. 4. Net interest margin is calculated by dividing U.S. Banking segment’s net interest income by average interest-earning assets excluding the impac
Slide 42: Endnotes on Slides 17 to 25
Endnotes on Slides 17 to 25 Slide 17 1. PCL Ratio: Provision for Credit Losses on a quarterly annualized basis/Average Net Loans. 2. Net Total Bank and U.S. Banking PCL ratios exclude credit losses associated with the retailer program partners' share of the U.S. Strategic Cards Portfolio, which is r
Slide 43: Endnotes on Slides 26 to 33
Endnotes on Slides 26 to 33 Slide 26 1. Please refer to Slide 2, Endnote 1. 2. Numbers may not add due to rounding. Slide 27 1. Please refer to Slide 2, Endnote 1. 2. Numbers may not add due to rounding. 3. Insured deposit accounts. Slide 28 1. Gross written premiums for home and auto insurance and
Slide 44: Endnotes on Slides 34 to 37
Endnotes on Slides 34 to 37 Slide 34 1. Includes Small Business Banking and Business Credit Cards. 2. Consumer includes: Food, Beverage and Tobacco; Retail Sector. 3. Industrial/Manufacturing includes: Industrial Construction and Trade Contractors; Sundry Manufacturing and Wholesale Banking. 4. Othe
Slide 45: Investor Relations Contacts
Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: https://www.td.com/investor-relations 44 — TD QUARTERLY RESULTS PRESENTATION