Canada’s Toronto-Dominion Bank is expanding its U.S. mortgage lending by holding loans on its books -- a business model U.S. banks are just starting to revive as policy makers seek to reduce the government’s dominant role.
Bank of Nova Scotia’s Richard Waugh, who is stepping down next week after 43 years at Canada’s third- largest lender, said future growth will probably be in Asia after decades of expansion in Latin America.
AGF Management Ltd. Chief Executive Officer Blake Goldring said Canada’s third-largest independent investment manager by market value plans to reverse a 35 percent plunge in assets by doubling business from institutional clients and introducing new products.
Canadian Imperial Bank of Commerce agreed to sell about half its Aerogold Visa credit-card portfolio to Toronto-Dominion Bank, which is planning to start its own Aeroplan rewards card program in January.
Canadian Imperial Bank of Commerce is in talks to sell about half its Aerogold credit-card portfolio to Toronto-Dominion Bank, the lender that’s taking over as the main card partner for Aimia Inc.’s rewards program.
Toronto-Dominion Bank and National Bank of Canada, trading at record highs after posting earnings this week that topped analysts’ estimates, are poised to rally further as rising interest rates make mortgages and car loans more profitable.