The Toronto-Dominion Bank (NYSE:TD) Q3 2020 Earnings Conference Call - Final Transcript

Aug 27, 2020 • 01:30 pm ET


The Toronto-Dominion Bank (NYSE:TD) Q3 2020 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen. Welcome to the TD Bank Group Q3 2020 Earnings Conference Call.

I would now like to turn the meeting over to Ms. Gillian Manning. Please go ahead, Ms. Manning.

Gillian Mannin

Thank you, operator. Good afternoon and welcome to TD Bank Group's third quarter 2020 Investor Presentation. We will begin today's presentation with remarks from Bharat Masrani, the Bank's CEO. After which, Riaz Ahmed, the Bank's CFO will present our third quarter operating results. Ajai Bambawale, Chief Risk Officer, will then offer comments on credit quality.

After which we will invite questions from prequalified analysts and investors on the phone. Also here to answer your questions today are Teri Currie, Group Head, Canadian Personal Banking; Greg Braca, President and CEO, TD Bank, America's Most Convenient Bank; and Bob Dorrance, 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 material 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 to arrive at 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 of 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 reported results and factors and assumptions related to forward-looking information are all available in our Q3 2020 report to shareholders.

With that, let me turn the presentation over to Bharat.

Bharat Masrani

Thank you, Gillian and thank you, everyone for joining us today. For the last six months, TD's 90,000 colleagues have worked tirelessly to keep the bank fully operational through the COVID-19 crisis, delivering for our 26 million customers when they needed us most. Whether working-from-home or at a TD location store or other location, their hard work and dedication has been inspiring. I'm very proud of their tremendous efforts, often under difficult circumstances, and I thank them for their contributions.

TD is a bank, but we are also a community. We care for each other and our customers. Six months into this crisis, our culture and our people remain among our most important advantages. They are what will see us through this period of turmoil, and I'm confident that they will enable us to emerge even stronger in the months ahead. COVID-19 has affected us all, in ways none of us could have imagined.

But over the last few months, it has become clear that some communities are being disproportionately impacted.