Chair of the Board's Message

This year, TD successfully steered through one of the greatest challenges in its long history. The pandemic posed the challenge of a lifetime for the health and well-being of our customers, our communities and our colleagues. Guided by our purpose and values, we delivered for all our stakeholders.

The Bank generated earnings that enabled it to build capital; set aside unprecedented provisions for credit losses; pay increased dividends to our shareholders; recognize the contribution of our colleagues with special compensation; and increase financial support for our communities. Moreover, the extraordinary engagement of our colleagues and the Bank’s investments in systems and infrastructure enabled us to provide the full suite of services to our customers without interruption and to deliver government relief programs to millions of individuals and businesses.

While meeting the operational challenges posed by the pandemic, the Bank made progress on critical strategic initiatives to position itself for growth in the years to come. The pace and scope of the Bank’s digital journey accelerated. The merger of TD Ameritrade with The Charles Schwab Corporation was concluded. The Bank enhanced its commitment to leadership in Environmental, Social and Governance practices with the launch of a climate action plan and a renewal and enhancement of its commitments to diversity and inclusion in its executive ranks. Investments to train and upskill our colleagues were also increased.

On behalf of my Board colleagues and all the Bank’s stakeholders, I would like to thank our Group President and CEO and his Senior Executive Team for their engagement and calm leadership in these uncertain times. We also recognize the hard work and dedication of TD’s 90,000 colleagues, particularly those on the front lines who, in the face of unprecedented challenges, continued to deliver the customer experience that is the TD hallmark.

I also want to express the Bank’s appreciation to our shareholders for their ongoing support and to our customers for the opportunity to serve them. We will continue to strive to maintain your support and trust.

Brian M. Levitt
Chair of the Board