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TD Bank Financial Group - Toronto Dominion Bank

Title: TD Bank Financial Group - Toronto Dominion Bank
Category: Finance
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Added on: Nov 20, 2011
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The Toronto-Dominion Bank is the largest bank in Canada based on market saturation and customer base. Aside from being a Canadian icon of the financial field, it is also the 6th largest bank in all of North America, rivaling many of the large conglomerates in the Untied States. Toronto-Dominion Bank has gained the trust of the Canadian people because of their remarkable growth, reliance and its deep rooted history with the Canadian people.
This history of the Toronto-Dominion Bank is quite interesting. The Toronto-Dominion Bank is actually a merger between the two oldest standing banks in Canada. The bank of Toronto and the Dominion Bank of Canada were competing midsized banks both originating in the mid 1800's. In their first few decades of operations, both banks primarily held business with farmers and Canadian landowners only. Within a few short years both banks realized that in order to compete with the larger financial institutions in Canada that they would have to nearly double their size. It was only a matter of time before the banks merged under the new name TD.
Early government regulations were very stiff on banks and prevented most Canadian banks from offering many of the banking products that are currently offered today. Before the mid 1950's the Canadian government banned banks from charging anything over a 6% interest rate for any loans that they offered. This meant that the financial products they offered could only be safely given to businesses with a long history of established credit.
After the Canadian government rescinded many of their strict government regulations TD was able to greatly expand their financial products. Mortgages, foreign investments and short term personal and commercial loans exploded and not only made Toronto-Dominion Bank highly successful, but allowed many of Canada's most famous and integral businesses to flourish.
Today the Toronto-Dominion Bank offers a wide variety of products under several different names under the TD umbrella. Online stock and trade brokerage, Asset management, private and commercial banking and merchant and insurance products are just a few of the several ways TD has adjusted to the times and provided financial solutions and opportunities for their ever-growing client base.
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