TD Bank 2009 Annual Report Download - page 42

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2009 MANAGEMENT’S DISCUSSION AND ANALYSIS38
Operating under the brand name, TD Bank, America’s Most Convenient Bank, U.S. Personal
and Commercial Banking offers a full range of banking services to individuals, businesses, and
state/local governments.
Assets1
(millions of dollars) Canadian dollars U.S. dollars
2009 2008 2007 2009 2008 2007
Consumer loans $ 20,371 $ 16,861 $ 9,685 $ 18,900 $ 15,844 $ 9,736
Business and government loans 36,108 35,154 16,739 33,500 33,033 16,827
Debt securities classified as loans27,900 ––7,302 ––
Investment securities327,998 28,366 4,438 25,879 26,655 4,461
Other assets 12,261 8,231 3,139 11,333 7,734 3,155
Total $ 104,638 $ 88,612 $ 34,001 $ 96,914 $ 83,266 $ 34,179
(percent)
EFFICIENCY RATIO
080907
80%
60
40
20
0
68%
(millions of Canadian dollars)
NET INCOME
080907
0
$800
400
600
200
$633
1Excluding all goodwill and other intangibles.
2As a result of the 2009 Amendments to CICA Handbook Section 3855, certain
available-for-sale and held-to-maturity securities were reclassified to loans, as
described in the “Changes in Accounting Policies during the Current Year” section.
3Investment securities at October 31, 2008 include $9,690 million (US$8,354 million)
of debt securities reclassified as loans in 2009.
BUSINESS SEGMENT ANALYSIS
U.S. Personal and Commercial Banking