TD Bank 2001 Annual Report Download - page 41

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39
HOW WE PERFORMED IN 2001
MANAGEMENT’S DISCUSSION AND ANALYSIS OF OPERATING PERFORMANCE
TABLE 14 Provision for credit losses
(millions of dollars)
Canada 1United States 1Other international 1Total
By sector 2001 2000 2001 2000 2001 2000 2001 2000 1999
Residential mortgages $3$9$ – $ – $ – $ – $3$9$4
Consumer instalment and
other personal 248 162 22––250 164 44
Total residential and personal 251 171 22––253 173 48
Real estate development
Commercial and industrial (3) (10) (1) –––(4) (10) –
Residential 1–––––1–(5)
Retail ––––––––(1)
Real estate services 1–––––1––
Total real estate (1) (10) (1) –––(2) (10) (6)
Agriculture 26––––263
Apparel and textile 1(11) (3) 24 ––(2) 13 36
Automotive 218–––10 15
Cable –––––––––
Chemical –––––––– 1
Construction 9333 –2–44 32
Financial 1–––(2) 4(1) 410
Food, beverage and tobacco (1) –––––(1) – 7
Forestry (20) 9––––(20) 945
Health and social services 2–14 102 ––16 102 36
Media and entertainment 19 17 ––4–23 17 5
Metals and mining 2–––––2– 2
Oil and gas (1) ––(2) ––(1) (2) 1
Retail 5–––––5– 3
Sundry manufacturing 21 –18 7––39 78
Telecommunications ––208 5(4) 5204 10 (43)
Transportation 11 71 36––14 77 1
Utilities –43 11 13 23 14 34 70 4
All other loans 1–––––1– 7
Total business and government 53 129 291 155 23 23 367 307 127
Total before special general
provision3$ 304 $ 300 $ 293 $ 157 $23 $23 $ 620 $ 480 $ 175
Special general provision 300 –100
Total $ 920 $ 480 $ 275
2001 2000 1999
By location12001 2000 1999 % mix % mix % mix
Canada
Atlantic $14 $9$5 1.5 1.9 1.8
Québec 26 26 17 2.8 5.4 6.2
Ontario 187 200 74 20.3 41.7 26.9
Prairies 41 27 13 4.6 5.6 4.7
British Columbia 36 38 8 3.8 7.9 2.9
Total Canada 304 300 117 33.0 62.5 42.5
United States 293 157 45 31.9 32.7 16.4
Other international
United Kingdom –85 –1.6 1.7
Australia 464 .4 1.3 1.5
Asia and Latin America 19 94 2.1 1.9 1.5
Total other international 23 23 13 2.5 4.8 4.7
Special general provision 300 –100 32.6 –36.4
Total $ 920 $ 480 $ 275 100.0 100.0 100.0
Provision for credit losses as a %
of net average loans2
Canada
Residential mortgages .01% .02% .01%
Personal .96 .77 .35
Business and other .18 .46 .26
Total Canada .29 .33 .16
United States 1.57 .71 .24
Other international .31 .26 .17
Special general provision .23 –.10
Total .71% .39% . 28%
1Based on geographic location of unit responsible for recording revenue.
2Includes customers’ liability under acceptances.
3There were no restructured loans written off during the years ended
October 31, 2001 and October 31, 2000 and $10 million of restructured
loans were written off during the year ended October 31, 1999.