TD Bank 2001 Annual Report Download - page 8

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6
TO OUR SHAREHOLDERS
Momentum
We gain momentum by working together to find ways to take advantage of the strengths by
each of our businesses.
For example, now that the integration of TD Canada Trust is virtually complete, we’re able
to draw on our large retail banking client base to maintain our leading position in retail
banking and to build our wealth management business. In addition, buying back the remain-
ing shares of TD Waterhouse Group’s common stock allows us to more closely integrate our
wealth management businesses, simplify our operations and provide us with more flexibility
to meet customer needs.
Be where banking is going
Banking is e-commerce. Our e-commerce strategies touch the entire organization, and
we’ve made great progress this year in our goal to deliver a fully integrated range of products
and services to all of our customers whenever they want, and through whatever channel
they choose.
Our strength in electronic banking complements our retail branch system in Canada, allows
us to provide banking services to TD Waterhouse in the United States and enables us to
expand into the United Kingdom and other key markets. This strategy has placed us among
the leaders in the industry in electronic financial services, with 3.5 million online customers
in Canada and around the world.
North American in scope
Growth opportunities in Canada are limited and for us to continue to be competitive we
need to be involved in businesses that are at least North American in scope. We’ve already
made great strides in self-directed brokerage, electronic banking and investment banking,
and we’re building on this to help expand our presence outside Canada.
In September we announced a plan to offer banking services to Wal-Mart customers in
the United States through our wholly-owned subsidiary, TD Bank USA, FSB, a federally
chartered savings bank, subject to regulatory approval. We’re planning to offer chequing
and savings accounts in as many as 100 Wal-Mart stores to start, which will help us build
a strong U.S. retail customer base.
Results that count
Our four strategic imperatives will be more important than ever to guide our decisions in
2002, which is likely to be another challenging year for the economy and the markets.
But in the end it all comes down to people: how effective we are in ensuring our
employees can help their customers keep and grow their business with us; how disciplined
we are in analyzing and making decisions about the services we provide and the products
we offer to ensure that we’re building value for our investors; and how well we adapt when
the environment in which we operate changes.
The people at TD Bank Financial Group have a history of successfully adapting to
change. We’re working together to build the best Canadian-based financial institution in
North America for our customers and employees, and to make money for our investors.
This is what matters – and what will set us apart in the years to come.
A. Charles Baillie W. Edmund Clark
Chairman and President and
Chief Executive Officer Chief Operating Officer
Toronto
January 24, 2002