(Region) – Canada’s Toronto-Dominion Bank may sell or close its TD Waterhouse online broking arms in Asia and Australia, according to Canadian reports.Ed Clark, chief executive of Canada’s third largest bank, told Toronto’s Financial Post he was not prepared to tolerate any more losses at the discount broking units outside of North America beyond this year.
TD Waterhouse has 3.3 million active accounts worldwide, most of them in North American.
2002 revenues dropped by C$104 million to under C$1.4 billion.