TORONTO DOMINION BANK Annual Report - How They Did This Year

Hey there, fellow investor! Let's take a look at how TD Bank Group (that's The Toronto-Dominion Bank and all its businesses) performed for the year ending October 31, 2025. Their main office is right in the heart of Toronto, Canada.

Big Changes: Saying Goodbye to Schwab

One of the most significant things that happened over the last few years, wrapping up this past year, was TD's journey with Charles Schwab.

• The Start: Back in October 2020, Schwab bought TD Ameritrade, where TD Bank was a major owner (about 43%). In exchange, TD got a roughly 13.5% stake in Schwab.
• The Sales: TD gradually sold off its shares in Schwab:
  • In August 2022, they sold some shares, bringing their ownership down to about 12.0%.
  • Then, in August 2024, they sold more, reducing their stake to about 10.1%.
  • Finally, in February 2025, TD sold its entire remaining 10.1% ownership in Schwab. This means TD no longer has a stake in Schwab. This was a big move, changing a major part of their investment portfolio.

What Could Affect TD's Future? (Risks)

Like any big company, TD faces various challenges and uncertainties. They've highlighted that their future results could be impacted by things like:

• Economic conditions: How the economy is doing in Canada, the U.S., and globally.
• Geopolitical risks: Things like trade policies or tariffs.
• Inflation and interest rates: These can really affect banking.
• Regulatory issues: Especially around their U.S. anti-money laundering (AML) programs.
• Cybersecurity: Protecting customer data and systems is always a big concern.
• Competition: From other banks and new financial technology companies.
• Environmental and social risks: Including climate-related issues.

It's important to remember that these are just potential risks, and TD is always working to manage them.

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Key Takeaways for Investors:

• A major development for TD Bank in the past year was the complete sale of its stake in Charles Schwab by February 2025, marking a significant change in its investment portfolio.
• TD has identified several potential factors that could influence its future performance, including global economic conditions, geopolitical events, interest rate fluctuations, regulatory compliance (particularly regarding U.S. anti-money laundering programs), cybersecurity, competitive pressures, and environmental and social considerations.