Banknorth sets stage for TD&#39;s rapid US expansion
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Toronto-Dominion Bank has sealed its $3.8-billion (US) deal for Banknorth Group Inc., an acquisition meant to set the stage for rapid US expansion and make TD a more attractive
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Major international expansion to roll out nine local services for countries including the UK and Ireland.
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Canadian control of Banknorth Group Inc. is likely to be good for consumers on this side of the border, an analyst said yesterday after confirmation that TD Bank Financial Group is to become majority shareholder in Banknorth Group Inc.
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The deal will expand Carlyleâs capital base and its ties to a region that is raising its financial profile around the world.
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Toronto-Dominion Bank said that its profit rose 19 percent in the second quarter, helped by a strong performance in all business lines except its retail banking unit in the United States. Toronto-Dominion reported profit of 879 million Canadian dollars ($814 million), up from 738 million Canadian dollars a year ago. Revenue in the period, which ended April 30, rose to 3.5 billion Canadian dollars, from 3.1 billion Canadian dollars. In the United States, TD Banknorth, its New England retail bank, reported lower profit as job cuts and branch closings raised costs. Banknorth earned 23 million Canadian dollars in the quarter, down 61 percent.
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The 2006-07 Bruins got their first look at the upgraded TD Banknorth Garden yesterday, including the new mammoth high-definition scoreboard, and came away impressed.
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Toronto-Dominion Bank TD.TO made a  much-anticipated push into U.S. retail banking on Thursday,  announcing it would acquire a majority stake in Banknorth Group  Inc. BNK.N for $3.8 billion.
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Banknorth Group Inc. solicited bids from several other large banks before deciding that a Canadian bank could acquire a majority stake in the company, chief executive William J. Ryan told analysts yesterday.
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Banknorth Group , New England's largest independent bank, said this week it is interested in putting its name on the FleetCenter.
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Our neighbor to the north steams ahead with an ambitious American acquisition.
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With a fresh footprint in New England, Toronto Dominion Bank hopes to launch an &quot;expanding beachhead&quot; south of the border with its proposed takeover of a mid-sized US bank.
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The Deutsche Bank Championship on the PGA Tour this weekend is drawing crowds to the Tournament Players Club of Boston in hot pursuit of Tiger Woods. But the event also represents a key branding opportunity for the bank, which does not have branches in the United States. Nonetheless, it has a presence, including about 405 employees in Boston in various ...
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Danske Bank chief executive Peter Straarup said he planned to expand NIBâs branch network in the Republic. âThe economy of the Republic of Ireland continues to outperform other European economies, and
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Toronto-Dominion Bank, Canada&#39;s second-largest bank by assets, agreed Thursday to buy a 51 percent stake in Banknorth Group for $3.
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Bank of America Corp. chief executive Kenneth D. Lewis, under pressure to explain recent job cuts made following the bank's $48 billion acquisition of FleetBoston Financial Corp. , yesterday said he will move one of the bank's four main divisions to Boston.
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Toronto-Dominion Bank, Canada&#39;s second-largest bank by assets, said it&#39;s in talks for a ``possible transaction&#39;&#39; with Banknorth Group Inc.
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OneUnited Bank, a Boston company ranked as the nation's second-largest black-owned bank, is planning an expansion that could put up to five new branches in Boston neighborhoods before year's end and eventually dozens in other cities.