TD Bank 2003 Annual Report Download - page 54

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2003 • Management’s Discussion and Analysis52
TABLE 14 Provision for credit losses
(millions of dollars)
Canada1United States1Other international 1Total
By sector 2003 2002 2003 2002 2003 2002 2003 2002 2001
Residential mortgages $2 $6 $ – $ – $ – $ – $2 $6 $3
Consumer instalment and
other personal 332 326 12––333 328 250
Total residential and personal 334 332 12––335 334 253
Real estate development
Commercial and industrial 6(1) ––––6(1) (4)
Residential 2(2) ––––2(2) 1
Retail –––––––––
Real estate services –(1) –––––(1) 1
Total real estate 8(4) ––––8(4) (2)
Agriculture 26 40 ––––26 40 2
Apparel and textile 14––––14 (2)
Automotive 83––––8310
Cable –––99 –26 –125 –
Chemical 51––––51 –
Construction (1) 14 –22 ––(1) 36 44
Financial 22–46 ––248 (1)
Food, beverage and tobacco 23––––23 (1)
Forestry 139 ––––139 (20)
Health and social services 22–(1) ––2116
Media and entertainment 543 –16 ––559 23
Metals and mining 94513 ––14 17 2
Oil and gas 11–15 ––116 (1)
Retail 22–––(5) 2(3) 5
Sundry manufacturing 515 –9––524 39
Telecommunications 2––603 –52608 204
Transportation 25––––2514
Utilities –3–181 –111 –295 34
All other loans 38–1––391
Total business and government 83 185 51,004 –137 88 1,326 367
Total before general provision
and sectoral provision $417 $517 $6 $1,006 $ – $137 $423 $1,660 $620
General provision (157) –300
Sectoral provision (net of transfer
to specifics) (80) 1,265 –
Total $186 $2,925 $920
2003 2002 2001
By location12003 2002 2001 % mix % mix % mix
Canada
Atlantic $10 $11 $14 5.4 .4 1.5
Québec 13 18 26 7.0 .6 2.8
Ontario 307 348 187 165.0 11.9 20.3
Prairies 55 57 41 29.6 2.0 4.6
British Columbia 32 83 36 17.2 2.8 3.8
Total Canada 417 517 304 224.2 17.7 33.0
United States 61,006 293 3.2 34.4 31.9
Other international
United Kingdom –132 ––4.5 –
Australia –24 –.1 .4
Asia –319 –.1 2.1
Total other international –137 23 –4.7 2.5
General provision (157) –300 (84.4) –32.6
Sectoral provision (net of transfer to specifics) (80) 1,265 –(43.0) 43.2 –
Tota l $ 186 $ 2,925 $920 100.0 100.0 100.0
Provision for credit losses as a % of net average loans2
Canada
Residential mortgages –% .01% .01%
Personal .94 1.09 .96
Business and other .36 .71 .18
Total Canada .37 .48 .29
United States .05 6.37 1.57
Other international –2.30 .31
General provision (.12) –.23
Sectoral provision (.06) .97 –
Tota l .15% 2.24% .71%
1Based on geographic location of unit responsible for recording revenue.
2Includes customers’ liability under acceptances.