TD Weighing Options for European Direct Trading Unit, CFO Saysby
Toronto-Dominion Bank is weighing options for its U.K.-based European direct trading business, including a possible sale, Chief Financial Officer Riaz Ahmed said.
“We’re currently looking at our options to prevent further losses,” Ahmed said Thursday in a phone interview. “We’ll consider a suite of options.”
The lender took at C$116 million ($90 million) impairment charge on the unit in the fiscal second-quarter ended April 30, the Toronto-based bank said Thursday in a statement. The business has “been experiencing continued losses,” Toronto-Dominion said.