TORONTO, Jan. 10, 2019 /CNW/ - Further to the announcement
of Air Canada completing its acquisition of Aimia Canada Inc., The
Toronto-Dominion Bank ("TD") confirmed today that the previously
announced long-term loyalty program agreement with Air Canada (the
"Loyalty Agreement") has been entered into and is now effective.
Under the Loyalty Agreement, TD will be the primary credit card
issuer for Air Canada's new loyalty program when it launches in
2020.
"This agreement is a key milestone, providing our customers with
confidence and continuity, while securing the long-term stability
of a great travel program with our Canadian national carrier," said
Katy Boshart, Senior Vice President,
Canadian Credit Cards. " Customers can look forward to a refreshed
and exciting program and we're thrilled to continue offering our
customers value and a wide range of cardholder benefits in
2020."
With the Loyalty Agreement now in effect, customers can continue
to earn and redeem Aeroplan Miles as they do today and existing
Aeroplan Miles will be honoured on a one-to-one basis in the new
Air Canada program.
For additional details on the agreement, please refer to the
press release dated November 26,
2018, available here and at http://td.mediaroom.com.
Caution Regarding Forward-Looking
Information
From time to time, The Toronto-Dominion Bank
("TD" or the "Bank") makes written and/or oral forward-looking
statements, including in this document, in other filings with
Canadian regulators or the United
States (U.S.) Securities and Exchange Commission (SEC), and
in other communications. In addition, representatives of the Bank
may make forward-looking statements orally to analysts, investors,
the media, and others. All such statements are made pursuant to the
"safe harbour" provisions of, and are intended to be
forward-looking statements under, applicable Canadian and U.S.
securities legislation, including the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
but are not limited to, statements made in this document, the
Management's Discussion and Analysis ("2018 MD&A") in the
Bank's 2018 Annual Report under the heading "Economic Summary and
Outlook", for the Canadian Retail, U.S. Retail and Wholesale
Banking segments under headings "Business Outlook and Focus for
2019", and for the Corporate segment, "Focus for 2019", and in
other statements regarding the Bank's objectives and priorities for
2019 and beyond and strategies to achieve them, the regulatory
environment in which the Bank operates, and the Bank's anticipated
financial performance. Forward-looking statements are typically
identified by words such as "will", "would", "should", "believe",
"expect", "anticipate", "intend", "estimate", "plan", "goal",
"target", "may", and "could".
By their very nature, these forward-looking statements require
the Bank to make assumptions and are subject to inherent risks and
uncertainties, general and specific. Especially in light of the
uncertainty related to the physical, financial, economic,
political, and regulatory environments, such risks and
uncertainties – many of which are beyond the Bank's control and the
effects of which can be difficult to predict – may cause actual
results to differ materially from the expectations expressed in the
forward-looking statements. Risk factors that could cause,
individually or in the aggregate, such differences include: credit,
market (including equity, commodity, foreign exchange, interest
rate, and credit spreads), liquidity, operational (including
technology and infrastructure), reputational, insurance, strategic,
regulatory, legal, environmental, capital adequacy, and other
risks. Examples of such risk factors include the general business
and economic conditions in the regions in which the Bank operates;
the ability of the Bank to execute on long-term and shorter-term
strategic priorities, including the successful completion of
acquisitions and strategic plans; the ability of the Bank to
attract, develop, and retain key executives; disruptions in or
attacks (including cyber-attacks) on the Bank's information
technology, internet, network access, or other voice or data
communications systems or services; the evolution of various types
of fraud or other criminal behaviour to which the Bank is exposed;
the failure of third parties to comply with their obligations to
the Bank or its affiliates, including relating to the care and
control of information; the impact of new and changes to, or
application of, current laws and regulations, including without
limitation tax laws, capital guidelines and liquidity regulatory
guidance and the bank recapitalization "bail-in" regime; exposure
related to significant litigation and regulatory matters; increased
competition from incumbents and non-traditional competitors,
including Fintech and big technology competitors; changes to the
Bank's credit ratings; changes in currency and interest rates
(including the possibility of negative interest rates); increased
funding costs and market volatility due to market illiquidity and
competition for funding; critical accounting estimates and changes
to accounting standards, policies, and methods used by the Bank;
existing and potential international debt crises; and the
occurrence of natural and unnatural catastrophic events and claims
resulting from such events.
With regards to the Loyalty Agreement, there can be no assurance
that TD will realize the anticipated benefits or results; actual
results could differ materially from the expectations expressed in
the forward-looking statements. Examples of material
assumptions made by TD in the forward-looking statements include
assumptions regarding costs, process and timeline to launch cards
based on TD's experience.
The Bank cautions that the preceding list is not exhaustive of
all possible risk factors and other factors could also adversely
affect the Bank's results. For more detailed information, please
refer to the "Risk Factors and Management" section of the 2018
MD&A, as may be updated in subsequently filed quarterly reports
to shareholders and news releases (as applicable) related to any
events or transactions discussed under the headings "Significant
and Subsequent Events, and Pending Acquisitions" in the relevant
MD&A, which applicable releases may be found on www.td.com. All
such factors should be considered carefully, as well as other
uncertainties and potential events, and the inherent uncertainty of
forward-looking statements, when making decisions with respect to
the Bank and the Bank cautions readers not to place undue reliance
on the Bank's forward-looking statements.
Material economic assumptions underlying the forward-looking
statements contained in this document are set out in the 2018
MD&A under the headings "Economic Summary and Outlook", for the
Canadian Retail, U.S. Retail, and Wholesale Banking segments,
"Business Outlook and Focus for 2019", and for the Corporate
segment, "Focus for 2019", each as may be updated in subsequently
filed quarterly reports to shareholders.
Any forward-looking statements contained in this document
represent the views of management only as of the date hereof and
are presented for the purpose of assisting the Bank's shareholders
and analysts in understanding the Bank's financial position,
objectives and priorities, and anticipated financial performance as
at and for the periods ended on the dates presented, and may not be
appropriate for other purposes. The Bank does not undertake to
update any forward-looking statements, whether written or oral,
that may be made from time to time by or on its behalf, except as
required under applicable securities legislation.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by
branches and serves more than 25 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in TD Ameritrade; and Wholesale Banking, including
TD Securities. TD also ranks among the world's leading online
financial services firms, with more than 12 million active online
and mobile customers. TD had $1.3 trillion in assets on October 31, 2018. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group