道明银行(TD)在加拿大投资峰会前承诺五年投入1500亿加元贷款与融资，属软性姿态、无短期业绩增量

Toronto-Dominion Bank is pledging to provide C$150 billion ($108 billion) over five years in new lending, advice and financing activities to sectors it sees as crucial to Canada’s economic future, joining a wave of financial players making similar commitments.

Over the past week, Bank of Montreal said it will deploy as much as C$70 billion in new capital over 10 years and Canadian Imperial Bank of Commerce committed to lending C$2 billion over five years to small- and medium-size defense companies. Royal Bank of Canada, the country’s largest bank, fleshed out the details of a venture capital fund aimed at investing $1 billion to help innovative companies scale and commercialize at home.

Ontario Teachers’ Pension Plan also said it will invest an additional C$10 billion in Canada by the end of 2027, while insurer Sun Life Financial Inc. and asset managers Power Sustainable Capital Inc. and Public Sector Pension Investment Board unveiled Canadian investment plans last week as well.

Those promises, along with Toronto-Dominion’s commitment announced Monday morning, come ahead of the Canada Investment Summit in Toronto. The event, the brainchild of Prime Minister Mark Carney, is expected to draw chief executive officers and other top leaders from firms collectively overseeing more than C$100 trillion in assets. Several related events are also scheduled across the city.

“There is significant momentum on a global basis of capital moving to Canada,” Toronto-Dominion CEO Raymond Chun said in an interview at the bank’s headquarters. “Banks have a major role to play in terms of how we actually connect investors to the opportunities.”

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Chun said his firm will “significantly ramp up our talent” in each of five sectors: energy, critical minerals and resources, infrastructure, defense and aerospace, and digital and artificial intelligence. It plans additional lending, underwriting, advisory work and other financial services, including equity and debt-capital markets activity, he said.

“It’s not just about how much capital the banks have. To get these programs done, you actually have to mobilize within an organization,” he said, noting that the commitment equals about C$30 billion in additional activity per year, beyond the bank’s current growth rate in those sectors. TD will measure and report on the results, he said.

In a note last month titled “Triggering a Canadian Investment Supercycle,” TD’s top economists said that more than C$1 trillion in estimated spending on more than 300 publicly announced projects could — if realized — add C$12,000 per capita in real economic output over the next 10 years. In the most optimistic case, the country could even see C$1.7 trillion of investment.

Chun, who will give a speech at the Milken Institute’s first Global Dialogues conference in Toronto on Monday morning, said that while Canada still needs to prove it can get projects from plan to execution, he believes the country is on the cusp of significant growth opportunities.