TD Bank expects to complete 30M share-buyback this summer, CEO says
Jun. 08, 2023 1:19 PM ETThe Toronto-Dominion Bank (TD), TD:CAFHNBy: Liz Kiesche, SA News Editor2 Comments
BalkansCat/iStock Editorial via Getty Images
- TD Bank (NYSE:TD) expects to complete its recently announced 30M-share stock buyback plan during the summer and will assess further capital return to shareholders, TD Group President and CEO Bharat Masrani said Thursday during the company's investor day event.
- He also said that discussions with U.S. regulators have nothing to do with its relationship with customers, and the bank seeks to resolve the matters quickly.
- In May, the Wall Street Journal reported that regulators' concerns about TD's (TD) anti-money laundering practices may have led to the termination of its proposed acquisition of First Horizon (FHN).
- While the company is limited in what it can say about its U.S. operations due to the regulatory matter, the bank plans to grow its deposits and business in the U.S., Masrani added.
- In fiscal Q2, earnings declined as results at its Wealth, Insurance, and Wholesale units weakened.