Canada’s Toronto-Dominion Bank (TD Bank) is said to be weighing options for small acquisitions in the US market to accelerate its branch rollout.
TD Bank CEO Bharat Masrani said at a roundtable with media: "We open about 25 to 30 new branches in the US every year right through our footprint, so if there was a smallish tuck-in opportunity in the US Southeast, we would certainly look at it seriously, because it would accelerate our store build-out by a few years.
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"If something compelling comes up, we will certainly look at it, but we are not compelled to do it because there is a strategic gap in our franchise."
"Given the type of balance sheet we have in the U.S., we are also highly liquid and are always looking at opportunities that would fill out our balance sheet because we are rich in deposits but not as rich in loans", added Masrani.
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