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Company News

TD Bank CEO says 2019 investments helping navigate COVID-19 crisis

TORONTO, April 2 (Reuters) - Toronto-Dominion Bank’s 2019 performance and investments made during the year are supporting it as it navigates the new coronavirus outbreak, its chief executive told investors on Thursday.

“While the present reality is clearly having an impact on our business – as it is for every financial institution in Canada and the U.S. – our performance in 2019 bolstered the foundation of the bank,” CEO Bharat Masrani said at the bank’s virtual annual shareholder meeting.

Following investments in technology, the bank’s North American digital offerings have 13 million active users, with thousands more signing up each week as they bank from home, and its workforce has adapted to operational changes due to COVID-19 within days, he said. (Reporting By Nichola Saminather Editing by Denny Thomas and Chizu Nomiyama)

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