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TD's aim to open 100 U.S. branches by 2028 is "a today strategy," not simply a revival of branch expansion plans shared in 2023, U.S. executive Allison Robinson said Wednesday.
The Canadian bank said last week it intends to open 100 branches in the U.S. by the end of 2028, as it purses organic growth. The lender also plans to hire more retail and commercial bankers, U.S. CEO Leo Salom said during the bank's fiscal third-quarter earnings call Aug. 27.
In May 2023, Toronto-based TD shared plans to open 150 U.S. branches by 2027, with a focus on the Southeast – just a few weeks after its proposed $13.4 billion acquisition of Memphis, Tennessee-based First Horizon was terminated. At the time, TD circled south Florida, Atlanta and North Carolina as targeted areas for branch expansion.
But as the bank tackled anti-money laundering issues and was hit with a related $3.09 billion penalty and $434 billion ******* et cap on U.S. retail operations, those branch opening plans slowed "dramatically," then-CEO Bharat Masrani acknowledged in 2024. TD has also closed about 91 branches over the past two years, Salom said last week.
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TD's aim to open 100 U.S. branches by 2028 is "a today strategy," not simply a revival of branch expansion plans shared in 2023, U.S. executive Allison Robinson said Wednesday.
The Canadian bank said last week it intends to open 100 branches in the U.S. by the end of 2028, as it purses organic growth. The lender also plans to hire more retail and commercial bankers, U.S. CEO Leo Salom said during the bank's fiscal third-quarter earnings call Aug. 27.
In May 2023, Toronto-based TD shared plans to open 150 U.S. branches by 2027, with a focus on the Southeast – just a few weeks after its proposed $13.4 billion acquisition of Memphis, Tennessee-based First Horizon was terminated. At the time, TD circled south Florida, Atlanta and North Carolina as targeted areas for branch expansion.
But as the bank tackled anti-money laundering issues and was hit with a related $3.09 billion penalty and $434 billion ******* et cap on U.S. retail operations, those branch opening plans slowed "dramatically," then-CEO Bharat Masrani acknowledged in 2024. TD has also closed about 91 branches over the past two years, Salom said last week.
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