TD Bank 2002 Annual Report Download - page 43

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Management’s Discussion and Analysis of Operating Performance 41
HOW WE PERFORMED IN 2002
TABLE 14 Provision for credit losses
(millions of dollars)
Canada 1United States 1Other international1Total
By sector 2002 2001 2002 2001 2002 2001 2002 2001 2000
Residential mortgages $6$3$ – $ – $ – $ – $6$3$9
Consumer instalment and
other personal 326 248 22––328 250 164
Total residential and personal 332 251 22––334 253 173
Real estate development
Commercial and industrial (1) (3) –(1) ––(1) (4) (10)
Residential (2) 1––––(2) 1 –
Retail –––––––––
Real estate services (1) 1––––(1) 1 –
Total real estate (4) (1) –(1) ––(4) (2) (10)
Agriculture 40 2––––40 26
Apparel and textile 41–(3) ––4(2) 13
Automotive 32–8––310 1
Cable ––99 –26 –125 ––
Chemical 1–––––1––
Construction 14 922 33 –236 44 3
Financial 2146 ––(2) 48 (1) 4
Food, beverage and tobacco 3(1) ––––3(1) –
Forestry 39 (20) ––––39 (20) 9
Health and social services 22(1) 14 ––116 102
Media and entertainment 43 19 16 ––459 23 17
Metals and mining 4213 –––17 2 –
Oil and gas 1(1) 15 –––16 (1) (2)
Retail 25––(5) –(3) 5 –
Sundry manufacturing 15 21 918 ––24 39 7
Telecommunications ––603 208 5(4) 608 204 10
Transportation 511 –3––514 77
Utilities 3–181 11 111 23 295 34 70
All other loans 811–––91 –
Total business and government 185 53 1,004 291 137 23 1,326 367 307
Total before general provision
and sectoral provision $ 517 $ 304 $ 1,006 $ 293 $ 137 $23 $ 1,660 $ 620 $ 480
General provision –300 –
Sectoral provision (net of transfer
to specifics) 1,265 ––
Total $ 2,925 $ 920 $ 480
2002 2001 2000
By location12002 2001 2000 % mix % mix % mix
Canada
Atlantic $11 $14 $ 9 .4 1.5 1.9
Québec 18 26 26 .6 2.8 5.4
Ontario 348 187 200 11.9 20.3 41.7
Prairies 57 41 27 2.0 4.6 5.6
British Columbia 83 36 38 2.8 3.8 7.9
Total Canada 517 304 300 17.7 33.0 62.5
United States 1,006 293 157 34.4 31.9 32.7
Other international
United Kingdom 132 – 8 4.5 –1.6
Australia 246 .1 .4 1.3
Asia 319 9 .1 2.1 1.9
Total other international 137 23 23 4.7 2.5 4.8
General provision –300 ––32.6 –
Sectoral provision (net of transfer to specifics) 1,265 ––43.2 ––
Total $ 2,925 $ 920 $ 480 100.0 100.0 100.0
Provision for credit losses as a % of net average loans2
Canada
Residential mortgages .01% .01% .02%
Personal 1.09 .96 .77
Business and other .71 .18 .46
Total Canada .48 .29 .33
United States 6.37 1.57 .71
Other international 2.30 .31 .26
General provision –.23 –
Sectoral provision .97 ––
Total 2.24% .71% .39%
1Based on geographic location of unit responsible for recording revenue.
2Includes customers’ liability under acceptances.