Coronavirus | Toronto-Dominion Bank unlikely to close Canadian branches

1 minute

Toronto-Dominion Bank is unlikely to close a large number of branches in Canada even as it accelerates investments in technology, as the demand for in-person services has remained strong during the coronavirus pandemic on Thursday, said its chief executive.

There was generally a view that buildings are n't going to be attractive because of the pandemic, told Reuters, CEO of Canada's second-largest lender Bharat Masrani.

And we 're seeing to the contrary, he added; sometimes we went to open more locations because there was so much demand that we could n't handle the traffic with all the health protocols. As of Jan 31, TD had 1,087 branches across Canada just one fewer than a year earlier.

It had 1,223 branches in the United States, three more than a year ago, although the bank announced in February that it would close 82 branches that it deems redundant. Even as it does so, Masrani remains open to growing its US business through acquisitions, Masrani said.

While TD expects its office employees to combine home work with a few days in workplaces when they return to work, Masrani said it is still early to gauge the effect it will have on its office space needs.

What has always been a `` positive thing to do. ''

  • Comments
Loading comments...