01:24 PM EDT, 03/12/2026 (MT Newswires) -- TD Bank (TD.TO) chief financial officer Kelvin Tran says the bank is focused on growing its proprietary mortgage originations and credit cards in its Canadian personal and commercial banking arm.

On costs, Tran says the bank is "bending" the curve on expense growth and expects its year-over-year expense growth to continue to come down sequentially. TD aims to bring its CET 1 ratio to 13% by the second half of next year, and could possibly launch an additional share buyback (subject to regulatory approvals) if required to achieve this goal.

TD likes the credit card space, but believes it has to have scale and data to manage risk. Its proprietary cards channel helps deepen relationships with existing customers and partnerships help TD leverage its partners' customer relationships to build scale. TD has now taken on servicing Nordstrom clients. The Nordstrom agreement is a revenue and credit risk sharing agreement with, TD taking on a larger share of revenue but also credit losses. Still, the bank expects an overall benefit to the bottom line, Tran adds.

TD maintained its total provision for credit loss (PCL) ratio guidance of 40-50 bps in 2026.

Tran spoke at the RBC Global Financial Institutions Conference this week. TD is rated outperform, with a $148 price target at RBC.

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