TD Taps Helocs to Regain Clients in ‘Undisputed’ Leadership Push
- Currie wants greater share of the mortgage-substitute hybrids
- Canadian banking head also eyes growth in cards, mutual funds
A Toronto-Dominion bank branch in Vancouver.
Photographer: Ben Nelms/BloombergThis article is for subscribers only.
Toronto-Dominion Bank is seeking to win back customers with home-equity loans -- even as concerns grow over elevated consumer debt amid a slowing Canadian economy.
A push for a greater market share of home-equity lines of credit, or helocs, is part of this year’s strategy for Teri Currie, group head of Canadian personal banking at the country’s largest lender by assets. She wants Toronto-Dominion to be No. 1 in all areas of banking, and she maintains the company’s No. 4 position for these hybrid home loans pitched as mortgage substitutes doesn’t cut it.