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Performance indicators

Performance indicators focus effort, communicate our priorities, and benchmark TD’s performance as we strive to be The Better Bank. The following table highlights our performance against these indicators.

2014 performance indicators     Results1
  • Deliver above-peer-average total shareholder return2
  • Grow earnings per share (EPS) by 7 to 10%
  • Deliver above-peer-average return on risk-weighted assets3
  • 20.1% vs. Canadian peer average of 17.4%4
  • 15.1% EPS growth (8.4% after adding back the additional insurance charges recorded last year)
  • 2.53% vs. Canadian peer average of 2.29%3, 4
Business operations
  • Grow revenue faster than expenses
  • Invest in core businesses to enhance customer experience
  • Total revenue growth of 9.2% vs. total expense growth of 10.2%
  • Refer to “Business Segment Analysis” in the 2014 MD&A for details
  • Improve Customer Experience Index (CEI)5 scores
  • Invest in core businesses to enhance customer experience
  • CEI score 33.6% (target 32.6%)
  • Refer to “Business Segment Analysis” in the 2014 MD&A for details
  • Improve employee engagement score year-over-year
  • Enhance the employee experience by:
    • Listening to our employees
    • Building employment diversity
    • Providing a healthy, safe, and flexible work environment
    • Providing competitive pay, benefits, and performance - based compensation
    • Investing in training and development
  • Employee engagement score6 was 4.20 in 2014 vs. 4.17 in 2013
  • See TD’s 2014 Corporate Responsibility Report available April 2015
  • Donate minimum of 1% of domestic pre-tax profits (five-year average) to charitable and not-for-profit organizations
  • Make positive contributions by:
    • Supporting employees’ community involvement and fundraising efforts
    • Supporting advancements in our areas of focus, which include education and financial literacy, creating opportunities for young people, creating opportunities for affordable housing, and the environment
    • Protecting and preserving the environment
  • 1.3% or $56.7 million, in donations and community sponsorships in Canada vs. 1.3%, or $50.9 million, in 20137
  • US$22.3 million in donations and community sponsorships in the U.S. vs. US$22.9 million in 2013
  • £60,244 in donations and community sponsorships in the U.K. vs. £54,929 in 2013
  • $288,000 in domestic employee volunteer grants to 460 different organizations
  • $32.2 million, or 56.8%, of our community giving was directed to promote our areas of focus domestically
  • $4.9 million distributed to 1065 community environmental projects through TD Friends of the Environment Foundation; an additional $8.4 million from TD‘s community giving budget was used to support environmental projects

1 Performance indicators that include an earnings component are based on TD’s full-year adjusted results (except as noted). Effective November 1, 2011, The Toronto-Dominion Bank (the “Bank” or “TD”) prepares its Consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRS), the current Generally Accepted Accounting Principles (GAAP), and refers to results prepared in accordance with IFRS as the ”reported” results. The Bank also utilizes non-GAAP financial measures to arrive at “adjusted” results to assess each of its businesses and to measure overall Bank performance. To arrive at adjusted results, the Bank removes “items of note”, net of income taxes, from reported results. See “How the Bank Reports” in the accompanying 2014 Management’s Discussion and Analysis (MD&A) for further explanation, a list of the items of note, and a reconciliation of non-GAAP financial measures.
  Certain comparative amounts have been restated as a result of the adoption of new and amended standards under IFRS (New IFRS Standards and Amendments) which required retrospective application and to retrospectively reflect the impact of the January 31, 2014, stock dividend, as further discussed in Note 4 and Note 21 of the 2014 Consolidated Financial Statements, respectively, and due to reclassifications to conform with the presentation adopted in the current period. In addition, the Bank’s comparative segment results have been restated to reflect the segment realignment which occurred on November 1, 2013, which is further discussed in Note 31 of the 2014 Consolidated Financial Statements.

2 Total shareholder return is measured on a one-year basis from November 1, 2013, to October 31, 2014.

3 Return on Common Equity Tier 1 Capital (CET1) risk-weighted assets (RWA) measured year-to-date as at October 31, 2014, for comparison purposes. TD’s return on CET1 risk-weighted assets for 2014 was 2.53%. Effective the third quarter of 2014, each capital ratio has its own RWA measure due to OSFI prescribed scalar for inclusion of the Credit Valuation Adjustment (CVA). Effective the third quarter of 2014, the scalars for inclusion of (CVA) for CET1, Tier 1, and Total Capital RWA are 57%, 65%, and 77%, respectively.

4 For peers, earnings have been adjusted on a comparable basis to exclude identified non-underlying items. Canadian peers include Royal Bank of Canada, Scotiabank, Bank of Montreal and Canadian Imperial Bank of Commerce.

5 CEI is a measurement program that tracks TD customers’ loyalty and advocacy.

6 Scale for employee engagement score is from one to five.

7 Calculated based on Canadian cash donations/five-year rolling average domestic net income before tax.