Toronto-Dominion Bank invests in AI and US expansion

Toronto-Dominion Bank (TD) has announced a multi-year strategic partnership with AI specialist Cohere to advance the integration of artificial intelligence across its operations. The bank plans an initial investment of up to C$25 million over three years, utilizing its internal research center, Layer 6, to bridge external expertise with internal development and deployment processes.

In addition to its technological initiatives, TD is pursuing physical expansion in the United States, with plans to open 100 new branches by the end of 2028, subject to regulatory approvals. The bank's asset management division, TD Asset Management Inc., has also expanded its offerings with the launch of two new products: the TD Diversified Bond Pool and the TD Q International Dividend ETF.

Financially, TD reported a significant third-quarter 2026 performance, with an adjusted net profit of C$4.70 billion. This represents a 21% increase in adjusted net profit and a 26% rise in adjusted diluted earnings per share compared to the previous year. The bank's US operations saw a 41% increase in reported net profit, reaching C$1.074 billion, despite ongoing costs related to anti-money laundering remediation efforts.