TD to spin off 10% of global brokerage

Article Abstract:

Toronto-Dominion Bank announced that 10% of the company's worldwide discount brokerage business will be sold in an IPO that could be valued at almost C$1 bil. The spinoff will also include Waterhouse Investor Services Inc of New York, NY, and Green Line Investor Services of Toronto, Canada. The brokerage company was purchased in 1996 by Toronto-Dominion for C$726 mil. Toronto-Dominion has holdings in countries that include the US, Australia, Canada and UK.

Commercial banks, Toronto Dominion Bank

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TD posts record quarterly profit

Article Abstract:

Toronto-Dominion Bank (TD), the biggest financial institution in Canada, reported a record profit of C$348 million, or C$1.14 per share, for the second quarter of 1999, up 13% from the same period in 1998. The numbers were 10% ahead of projections made by analysts. The bank attributed the record profit to the unexpected rise in trading revenue and a securities gain.

Canada, Sales, profits & dividends, Toronto-Dominion Bank

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