TORONTO, Feb. 26, 2015 /CNW/ - TD Bank Group (TD) (TSX and NYSE: TD) today announced a contract extension with Target Corporation (Target) (NYSE: TGT), in which TD will continue to be the exclusive issuer of Target co-branded and private label consumer credit cards to Target's U.S. customers until March 2025. The two companies initially entered into a seven-year agreement when TD completed the acquisition of Target's U.S. credit card portfolio in 2013.
"We are excited to continue our agreement with Target, a top brand with an industry-leading card and rewards program," said Michael Rhodes, Executive Vice President, North American Credit Cards and Merchant Services, TD Bank Group. "Target is an exceptional partner for TD as we work together to grow the Target credit card program."
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 24 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 approximately 9.7 million active online and mobile customers. TD had CDN$1.1 trillion in assets on January 31, 2015. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
For further information: Crystal Jongeward, Corporate and Public Affairs, TD Bank Group, 416-308-1746