TD Joins Rivals in Pledging Billions to Key Canadian Sectors

Toronto-Dominion Bank is joining other major Canadian banks in pledging massive amounts of capital to key sectors. The bank announced that it will provide C$150 billion ($108 billion) over five years in new lending, advice, and financing activities to areas crucial to Canada's economic future.

This move follows commitments from other financial players, including Bank of Montreal, which said it will deploy as much as C$70 billion in new capital over 10 years. Canadian Imperial Bank of Commerce has also committed to lending C$2 billion over five years to small- and medium-size defense companies.

The Royal Bank of Canada is investing $1 billion through a venture capital fund aimed at helping innovative companies scale and commercialize at home. This commitment follows the bank's announcement earlier this year.