NEW YORK, Oct. 18 /PRNewswire/ -- TD Waterhouse Group, Inc., the global
online financial services firm (NYSE: TWE; TSE), reports the following monthly
activity for the period ended September 30, 2001:
* Total customer assets were $120 billion as of September 30, 2001,
down 8% from August 2001, and 27% lower than September 2000.
* Total trades per day averaged 105,800. This is a 35% increase from
August 2001 and is 32% lower than September 2000. During the month
of September, TD Waterhouse Group, Inc. transacted 1.68 million
trades globally.
* New accounts opened totaled 30,400. This is down 11% from August
2001 and 41% lower than September 2000.
* Margin loans were $3.5 billion at September 30, 2001. This compares
to $4.1 billion a month earlier and is a decrease of 60% from
September 30, 2000.
* Through October 12th, average trades per day were about 94,000.
TD Waterhouse Group, Inc., (NYSE: TWE; TSE), also known as "TD
Waterhouse," provides investors with a broad range of brokerage, mutual fund,
banking and other consumer financial products on an integrated basis.
Worldwide, TD Waterhouse currently services 3.3 million active customer
accounts in the United States, Canada, the United Kingdom, Australia, and Hong
Kong. The firm also has joint ventures in Japan, Luxembourg, Singapore and
India to serve investors in those countries. TD Waterhouse can be found on
the Internet at http://www.tdwaterhouse.com and on America Online at Keyword:
TD Waterhouse.
TD Waterhouse's majority owner is TD Bank (NYSE: TD; TSE). Headquartered
in Toronto, Canada, with offices around the world, TD Bank Financial Group
offers a full range of financial products and services to approximately 13
million customers worldwide.
This release contains projections and other forward-looking statements
regarding future events and our future financial performance. These
statements are based on management's current beliefs and expectations. These
beliefs and expectations are based on assumptions that are subject to risks
and uncertainties that may cause actual results to differ materially from
these statements. The forward-looking statements contained in this release
speak only as of the date hereof and we do not undertake any obligation to
provide updates on or corrections of such statements in the future as a result
of subsequent developments or otherwise. The risks and uncertainties that may
cause actual results to differ materially from these statements include, but
are not limited to, (i) changes in general economic conditions and prevailing
interest rates, (ii) market volatility or further sustained decreases in the
market prices of securities generally, (iii) significant increases or
decreases in trading activity by our customers, (iv) customer attrition,
(v) the development and acceptance of new products and services, (vi) system
delays and failures, (vii) increased competition, (viii) a slowdown in the
expected rate of employee attrition, (ix) the success of our expense
reduction initiatives in achieving their expected benefits, and (x) our
ability to estimate when our expense reduction initiatives will affect our
operating results. For a discussion of risks and uncertainties that may cause
actual results to differ from those reflected in such forward-looking
statements, please refer to our filings with the Securities and Exchange
Commission, including the information included under the heading "Item 1.
Business-Risk Factors" in our Annual Report on Form 10-K for the fiscal year
ended October 31, 2000.
SOURCE TD Waterhouse Group, Inc.,
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Related links:
http://www.tdwaterhouse.com
CONTACT:
Media - Melissa Gitter, First Vice President,
Public Affairs, +1-212-806-3522, or Analysts - Kevin Sterns,
Executive Vice President & CFO, +1-212-908-7301, both of TD
Waterhouse Group, Inc.
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