TD Bank 2002 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2002 TD Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 95

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95

Management’s Discussion and Analysis of Operating Performance
40
HOW WE PERFORMED IN 2002
TABLE 13 Impact on net interest income due to impaired loans
(millions of dollars) 2002 2001 2000
Reduction in net interest income due to impaired loans $ 115 $ 127 $ 103
Recoveries (20) (25) (15)
Net reduction $95$ 102 $ 88
TABLE 12 Impaired loans less allowance for credit losses
(millions of dollars)
Canada1United States1Other international1Total
By sector 2002 2001 2002 2001 2002 2001 2002 2001 2000
Residential mortgages $47$82 $ – $ – $ – $ – $47$82 $69
Consumer instalment and
other personal 67 94 ––––67 94 47
Total residential and personal 114 176 ––––114 176 116
Real estate development
Commercial and industrial 95––––9516
Residential 46––––462
Retail –––––––––
Real estate services –2–––––22
Total real estate 13 13 ––––13 13 20
Agriculture 63 22 ––––63 22 21
Apparel and textile (4) (5) ––––(4) (5) 4
Automotive 5411––653
Cable ––286 –––286 ––
Chemical 22––––22 –
Construction 12 8(5) 33 11842 1
Financial 1128 –––29 1 –
Food, beverage and tobacco (4) 9––––(4) 96
Forestry 23 24 ––––23 24 28
Health and social services 24––––2495
Media and entertainment 16 19 15 ––10 31 29 25
Metals and mining 3336 –––39 3 –
Oil and gas 1115 –––16 1 –
Retail –(2) –––––(2) –
Sundry manufacturing 18 39 55 63 ––73 102 21
Telecommunications 11 –175 276 36 4222 280 46
Transportation 135 137 33 36 ––168 173 183
Utilities 23 25 290 147 36 35 349 207 104
All other loans 15 2––––15 24
Total business and government 335 306 929 556 73 50 1,337 912 561
Total net impaired loans before
general allowances and
sectoral allowances $ 449 $ 482 $ 929 $ 556 $73 $50 $ 1,451 $1,088 $ 677
Less: general allowances 1,141 1,141 836
Less: sectoral allowances 1,285 ––
Total net impaired loans $ (975) $ (53) $ (159)
Net impaired loans as a %
of common equity (8.4)% (.4)% (1.4)%
2002 2001 2000
By location12002 2001 2000 % mix % mix % mix
Canada
Atlantic $5 $8$7 .4 .7 1.0
Québec 18 25 40 1.2 2.3 5.9
Ontario 345 383 297 23.8 35.2 43.9
Prairies 60 31 17 4.1 2.9 2.5
British Columbia 21 35 23 1.5 3.2 3.4
Total Canada 449 482 384 31.0 44.3 56.7
United States 929 556 277 64.0 51.1 40.9
Other international 73 50 16 5.0 4.6 2.4
Total net impaired loans before
general and sectoral allowances $1,451 $ 1,088 $ 677 100.0 100.0 100.0
Less: general allowances 1,141 1,141 836
Less: sectoral allowances 1,285 ––
Total net impaired loans $ (975) $ (53) $ (159)
Net impaired loans as a % of net loans2(.7)% –% (.1)%
1Based on geographic location of unit responsible for recording revenue.
2Includes customers’ liability under acceptances.