Quarterly filings show TD Auto Finance Payment volumes remain aligned with pre-pandemic norms, mitigating fears of excessive credit expansion or contraction in auto financing. As I noted last quarter, the restructuring program is expected to generate savings of approximately $400 million pre-tax in fiscal 2024 and annual run rate savings of approximately $600 million pre-tax. Cost savings will be driven by a 3% FTE reduction, real estate optimization and asset impairments as we accelerate transitions to new platform. This will create capacity to reinvest. We are on track to deliver our FTE reduction target and targeted fiscal 2024 and annualized savings. Please turn to Slide 12. The Canadian Personal and Commercial Banking delivered a strong quarter, reflecting volume growth and margin expansion. Average loan volumes rose 7% year-over-year with 7% growth in personal volumes driven by real estate secured lending up 6% and cards up 11% and 8% growth in business volumes. Miranda Garrison Senior Corporate Communications Manager [email protected] Equity strategists highlight that TD Auto Finance Payment performance is indirectly tied to auto sales data, making upcoming monthly vehicle sales figures critical for sector forecasts.
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