The Toronto-Dominion Bank (TD) Q4 2022 Earnings Call Transcript

The Toronto-Dominion Bank (NYSE:TD) Q4 2022 Earnings Conference Call December 1, 2022 1:30 PM ET

Company Participants

Brooke Hales - Investor Relations

Bharat Masrani - Chief Executive Officer

Kelvin Tran - Chief Financial Officer

Ajai Bambawale - Chief Risk Officer

Michael Rhodes - Group Head, Canadian Personal Banking

Paul Douglas - Group Head, Canadian Business Banking

Raymond Chun - Group Head, Wealth Management and Insurance

Leo Salom - President and Chief Executive Officer, TD Bank, America’s Most Convenient Bank

Riaz Ahmed - Group Head, Wholesale Banking

Conference Call Participants

Gabriel Dechaine - National Bank Financial

Meny Grauman - Scotiabank

Paul Holden - CIBC

Doug Young - Desjardins Bank Capital Markets

Lemar Persaud - Cormark Securities

Sohrab Movahedi - BMO Capital Markets

Joo Ho Kim - Credit Suisse

Mike Rizvanovic - KBW Research

Scott Chan - Canaccord Genuity

Operator

Good afternoon, everyone and welcome to the TD Bank Group Q4 2022 Earnings Conference Call. I would now like to turn the meeting over to Ms. Brooke Hales. Please go ahead, Ms. Hales.

Brooke Hales

Thank you, operator. Good afternoon and welcome to TD Bank Group’s fourth quarter 2022 investor presentation. We will begin today’s presentation with remarks from Bharat Masrani, the bank’s CEO. After which Kelvin Tran, the bank’s CFO, will present our fourth quarter operating results. Ajai Bambawale, Chief Risk Officer, will then offer comments on credit quality, after which we will invite questions from pre-qualified analysts and investors on the phone.

Also present today to answer your questions are Michael Rhodes, Group Head, Canadian Personal Banking; Paul Douglas, Group Head, Canadian Business Banking; Raymond Chun, Group Head, Wealth Management and Insurance; Leo Salom, President and CEO, TD Bank, America’s Most Convenient Bank; and Riaz Ahmed, Group Head, Wholesale Banking.

Please turn to Slide 2. At this time, I would like to caution our listeners that this presentation contains forward-looking statements that there are risks that actual results could differ materially from what is discussed and that certain factors or assumptions were applied in making these forward-looking statements. Any forward-looking statements contained in this presentation represent the views of management and are presented for the purpose of assisting the bank’s shareholders and analysts in understanding the bank’s financial position, objectives and priorities and anticipated financial performance. Forward-looking statements may not be appropriate for other purposes.

I would also like to remind listeners that the bank uses non-GAAP financial measures, such as adjusted results, to assess each of its businesses and to measure overall bank performance. The bank believes that adjusted results provide readers with a better understanding how management views the bank’s performance. Bharat will be referring to adjusted results in his remarks. Additional information on items of note, the bank’s use of non-GAAP and other financial measures, the bank’s reported results and factors and assumptions related to forward-looking information are all available in our annual 2022 report to shareholders.