Toronto-Dominion Bank (TD), Canada’s second-largest bank, may expand its credit-card business in the U.S., said Tim Hockey, the lender’s group head of Canadian banking.
Toronto-Dominion’s acquisition of Bank of America Corp. (BAC)’s MBNA Canadian credit-card portfolio in December gives his bank a revenue “cushion,” said Hockey, speaking today at an investor conference in Montreal. The Toronto-based company will expand its card business “dependent on our store strategy,” he said.
The bank has about 1,300 branches in the U.S., more than it has in Canada.
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