TD Bank 2010 Annual Report Download - page 49

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TD BANK GROUP ANNUAL REPORT 2010 MANAGEMENT’S DISCUSSION AND ANALYSIS 47
(millions of Canadian dollars, except as noted) Percentage of total
2010 2009 20083 2010 2009 20084
Canada
Residential mortgages1,2 $ 5 $ 5 $ 11 0.3% 0.3% 1.2%
Credit card, consumer instalment and other personal 856 882 608 49.6 54.7 65.1
Total personal 861 887 619 49.9 55.0 66.3
Real estate
Residential 5 11 – 0.3 0.6 –
Non-residential 2 1 – 0.1 0.1 –
Total real estate 7 12 – 0.4 0.7 –
Agriculture 2 (1) – 0.1 (0.1) –
Automotive 5 10 (3) 0.3 0.6 (0.3)
Chemical – 1 – – 0.1 –
Financial 2 16 3 0.1 1.0 0.3
Food, beverage, and tobacco 7 5 2 0.4 0.3 0.2
Forestry (12) 18 (2) (0.7) 1.1 (0.2)
Government and public sector entities 2 – – 0.1 – –
Health and social services 9 2 4 0.6 0.1 0.4
Industrial construction and trade contractors 12 9 5 0.7 0.6 0.5
Media and entertainment (5) 19 5 (0.3) 1.2 0.5
Metals and mining 2 4 1 0.1 0.2 0.1
Pipelines, oil and gas 2 8 10 0.1 0.5 1.1
Retail sector 43 31 19 2.5 1.9 2.1
Sundry manufacturing and wholesale 24 12 4 1.4 0.7 0.4
Transportation 4 9 4 0.2 0.6 0.4
Other 13 22 15 0.8 1.4 1.6
Total business & government 117 177 67 6.8 10.9 7.1
Total Canada 978 1,064 686 56.7 65.9 73.4
United States
Residential mortgages 20 17 11 1.2 1.1 1.2
Credit card, consumer instalment and other personal 223 198 72 12.9 12.3 7.7
Total personal 243 215 83 14.1 13.4 8.9
Real estate
Residential 103 73 36 6.0 4.5 3.9
Non-residential 57 51 4 3.3 3.1 0.4
Total real estate 160 124 40 9.3 7.6 4.3
Agriculture 3 1 – 0.1 0.1 –
Automotive 6 6 28 0.3 0.4 3.0
Chemical 34 4 – 2.0 0.2 –
Financial 16 28 38 0.9 1.7 4.1
Food, beverage, and tobacco 6 – – 0.3 – –
Forestry (16) 19 1 (0.9) 1.2 0.1
Government and public sector entities – – 1 – – 0.1
Health and social services 17 13 2 1.0 0.8 0.2
Industrial construction and trade contractors 17 12 11 1.0 0.7 1.2
Media and entertainment 24 14 3 1.4 0.9 0.3
Metals and mining 2 5 14 0.1 0.3 1.5
Pipelines, oil and gas 2 5 – 0.1 0.3 –
Power and utilities (1) (2) – – (0.1) –
Retail sector 50 20 16 2.9 1.2 1.7
Sundry manufacturing and wholesale 14 22 2 0.8 1.4 0.2
Telecommunications and cable 4 (5) (1) 0.2 (0.3) (0.1)
Transportation 7 – 1 0.4 – 0.1
Other 34 22 9 2.0 1.4 1.0
Total business & government1 379 288 165 21.9 17.8 17.7
Total United States 622 503 248 36.0 31.2 26.6
International
Business & government (2) 3 – (0.1) 0.2 –
Total international (2) 3 – (0.1) 0.2 –
Total excluding other loans 1,598 1,570 934 92.6 97.3 100.0
Other loans
Debt securities classified as loans4 128 44 – 7.4 2.7 –
Total other loans 128 44 – 7.4 2.7 –
Total specific provision 1,726 1,614 934 100.0% 100.0% 100.0%
General provision
Personal, business & government (4) 660 129
Debt securities classified as loans4 (97) 206 –
Total general provision (101) 866 129
Total provision for credit losses $ 1,625 $ 2,480 $ 1,063
PROVISION FOR CREDIT LOSSES BY INDUSTRY SECTOR
TABLE 30
1
Includes trading loans that the Bank intends to sell immediately or in the near term
with a fair value of $188 million (2009 – $140 million) and amortized cost of
$188 million (2009 – $142 million), and loans designated as trading under the fair
value option of $85 million (2009 – $210 million) and amortized cost of $86 million
(2009 – $226 million). No allowance is recorded for trading loans or loans designated
as trading under the fair value option.
2
Effective 2009, MUR mortgages, and any related credit losses, have been reclassified
from personal – residential mortgages to business & government retroactively to
2008. This is to achieve consistent reporting across all operating business segments.
3
The presentation of 2008 has been reclassified to conform to the current presentation
of reporting real estate secured loans under the borrower’s appropriate industry
sector rather than as a real estate loan.
4
As a result of the 2009 Amendments to CICA Handbook Section 3855, certain
available-for-sale and held-to-maturity securities were reclassified to loans.