DBRS confirms TD Bank

DBRS said it confirmed the ratings of the Toronto-Dominion Bank (TD Bank) and its related entities, including its deposits and senior debt at AA and short-term instruments at R-1 (high).

The trend is stable.

The ratings are supported by the bank's focus on its lower-risk retail banking business and by its integration experience, DBRS said.

Over the last several years, the more stable retail banking business has generated a higher proportion of total pre-tax income at the bank relative to its four largest Canadian bank peers, the agency said.

The bank's position in Canadian personal banking, coupled with a strong housing market, is one of the driving forces behind the strong overall financial performance of the bank, DBRS said.

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