TD Bank 2011 Annual Report Download - page 44

TD BANK GROUP ANNUAL REPORT 2011 MANAGEMENT’S DISCUSSION AND ANALYSIS42
(millions of Canadian dollars, except as noted) Percentage of total
2011 2010 20092 2011 2010 20092
Gross Specific Net Net Net
loans
allowance loans loans loans
Canada
Residential mortgages1,2 $ 73,601 $ 15 $ 73,586 $ 61,505 $ 58,239 23.5% 22.0% 22.0%
Credit card, consumer instalment and other personal 97,512 137 97,375 94,656 88,478 31.1 33.9 33.4
Total personal 171,113 152 170,961 156,161 146,717 54.6 55.9 55.4
Real estate
Residential 10,738 8 10,730 9,531 9,069 3.4 3.4 3.4
Non-residential 5,899 1 5,898 4,465 3,788 1.9 1.6 1.4
Total real estate 16,637 9 16,628 13,996 12,857 5.3 5.0 4.8
Agriculture 2,751 2 2,749 2,598 2,383 0.9 0.9 0.9
Automotive 1,249 – 1,249 1,105 992 0.4 0.4 0.4
Financial 8,235 3 8,232 5,249 6,206 2.6 1.9 2.3
Food, beverage, and tobacco 1,043 – 1,043 1,045 1,230 0.3 0.4 0.5
Forestry 388 – 388 376 445 0.1 0.1 0.2
Government, public sector entities and education 4,143 2 4,141 3,595 2,068 1.3 1.3 0.8
Health and social services 2,962 2 2,960 2,696 2,173 1.0 1.0 0.8
Industrial construction and trade contractors 1,341 9 1,332 1,155 1,019 0.4 0.4 0.4
Metals and mining 634 – 634 563 788 0.2 0.2 0.3
Pipelines, oil, and gas 1,850 1 1,849 1,888 2,465 0.6 0.7 0.9
Power and utilities 1,082 – 1,082 951 960 0.3 0.3 0.4
Professional and other services 1,830 6 1,824 1,685 1,551 0.6 0.6 0.6
Retail sector 2,035 11 2,024 2,028 1,996 0.7 0.7 0.8
Sundry manufacturing and wholesale 1,505 6 1,499 1,442 1,166 0.5 0.5 0.4
Telecommunications, cable, and media 909 1 908 1,018 1,201 0.3 0.4 0.5
Transportation 541 4 537 487 516 0.2 0.2 0.2
Other 2,524 13 2,511 2,024 1,998 0.8 0.7 0.7
Total business and government2 51,659 69 51,590 43,901 42,014 16.5 15.7 15.9
Total Canada 222,772 221 222,551 200,062 188,731 71.1 71.6 71.3
United States
Residential mortgages 12,489 17 12,472 9,131 7,390 4.0 3.3 2.8
Credit card, consumer instalment and other personal 20,744 40 20,704 14,068 13,796 6.6 5.0 5.2
Total personal 33,233 57 33,176 23,199 21,186 10.6 8.3 8.0
Real estate
Residential 3,101 37 3,064 3,582 4,253 1.0 1.3 1.6
Non-residential 9,443 39 9,404 9,397 9,359 3.0 3.4 3.5
Total real estate 12,544 76 12,468 12,979 13,612 4.0 4.7 5.1
Agriculture 229 – 229 211 391 0.1 0.1 0.1
Automotive 1,276 3 1,273 1,196 1,178 0.4 0.4 0.4
Financial 2,729 4 2,725 1,657 2,522 0.9 0.6 1.0
Food, beverage, and tobacco 1,228 1 1,227 1,167 1,211 0.4 0.4 0.5
Forestry 317 1 316 366 453 0.1 0.1 0.2
Government, public sector entities and education 2,390 1 2,389 1,951 1,855 0.8 0.7 0.7
Health and social services 4,280 2 4,278 3,810 3,474 1.4 1.4 1.3
Industrial construction and trade contractors 1,105 8 1,097 1,090 1,178 0.4 0.4 0.4
Metals and mining 903 10 893 694 648 0.3 0.2 0.2
Pipelines, oil, and gas 801 – 801 677 775 0.3 0.2 0.3
Power and utilities 969 1 968 894 774 0.3 0.3 0.3
Professional and other services 2,875 7 2,868 2,801 2,800 0.9 1.0 1.1
Retail sector 2,327 16 2,311 2,435 2,631 0.7 0.9 1.0
Sundry manufacturing and wholesale 2,641 10 2,631 2,110 2,110 0.8 0.8 0.8
Telecommunications, cable and media 1,095 1 1,094 1,151 1,364 0.3 0.4 0.5
Transportation 2,845 7 2,838 1,964 1,261 0.9 0.7 0.5
Other 1,461 3 1,458 1,064 952 0.4 0.4 0.3
Total business and government2 42,015 151 41,864 38,217 39,189 13.4 13.7 14.7
Total United States 75,248 208 75,040 61,416 60,375 24.0 22.0 22.7
International
Personal 12 – 12 11 8 – – –
Business and government 3,520 – 3,520 3,262 4,669 1.1 1.2 1.8
Total international 3,532 – 3,532 3,273 4,677 1.1 1.2 1.8
Total excluding other loans 301,552 429 301,123 264,751 253,783 96.2 94.8 95.8
Other loans
Debt securities classified as loans3 6,511 179 6,332 7,451 11,101 2.0 2.7 4.2
Acquired credit-impaired loans4 5,560 60 5,500 7,040 – 1.8 2.5 –
Total other loans 12,071 239 11,832 14,491 11,101 3.8 5.2 4.2
Total $ 313,623 $ 668 $ 312,955 $ 279,242 $ 264,884 100.0% 100.0% 100.0%
General allowance
Personal, business and government 1,496 1,469 1,533
Debt securities classified as loans3 149 163 277
Total general allowance 1,645 1,632 1,810
Total net of allowance $ 311,310 $ 277,610 $ 263,074
Percentage change over previous year – loans and acceptances, net of specific allowance 12.07% 5.42% 14.25%
Percentage change over previous year – loans and acceptances, net of allowance 12.14% 5.53% 14.05%
LOANS AND ACCEPTANCES, NET OF ALLOWANCE 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 $253 million (2010 – $188 million) and amortized cost of
$253 million (2010 – $188 million), and loans designated as trading under the fair
value option of $14 million (2010 – $85 million) and amortized cost of $5 million
(2010 – $86 million). No allowance is recorded for trading loans or loans desig-
nated as trading under the fair value option.
2 Effective 2009, multiple-unit residential (MUR) mortgages, and any related credit
losses, have been reclassified from personal – residential mortgages to business and
government. In addition, certain automotive and industrial construction and trade
contractor loans were reclassified to the financial sector.
3 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.
4 Includes all FDIC covered loans and other acquired credit-impaired loans.