Financial Post | Business

Toronto-Dominion Bank has just come off one of its most profitable years ever. Its shares have nearly regained the ground they lost in the financial crisis and the country’s second-biggest bank is riding high on the Canadian consumer’s apparently insatiable appetite for debt. But how much longer can it go on? TD chief executive Ed Clark recently sat down with Financial Post reporter John Greenwood to talk about the shaky state of household finances, the frothy housing market and what it all means for the banking sector. Here is an edited version of the interview.

QWhat do you think is the biggest challenge facing TD in the medium term?

A No question for all banks, for insurance companies, for pension funds, it is the prospect of low interest rates for an extended period of time. I think people have this idea that, “Well, gosh, low interest rates must be…

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