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CFOs Optimistic For Corporate And Economic Growth In 2013: TD Bank Survey

Responses regarding cash flow may correlate with increased willingness to spend. A majority (54%) of surveyed executives plan to increase capital expenditures in technology. Other top areas of expected capital deployment include:

  • Improvements to existing facilities (34%)
  • Hiring (26%)
  • Construction of new facilities (24%)
  • Office equipment (20%)
  • Expansion via merger/acquisition (18%)

Notably, 24% of respondents from companies with revenues over $500 million responded they may likely use cash reserves for expansion via merger and acquisition.

"The climb to a sustained corporate recovery has been a long one, but our survey results and recent work with customers indicate the environment is progressing," said Fred Graziano, Head of Regional Commercial, Government and Small Business Banking, and U.S. Treasury Management Services, at TD Bank. "The cautious optimism hinted at in last year's survey has begun to take hold within our footprint, and we're seeing customers capitalize on the low interest rates through M&A and self-investment, positioning themselves for a recovery in the market."

The Challenges of a Being a CFOThough more optimistic, finance executives continue to be affected by the unstable economy and the duties of their position. In reporting the most challenging aspect of the job as a financial decision-maker, 25% cited the ability to forecast results, with managing and training staff (16%) and acting as a strategic advisor to their CEO (14%) as other significant challenges.

Aside from the U.S. economic climate, about which executives are largely optimistic, respondents are concerned about the government's potentially negative impact on their company finances. Thirty percent of those polled cited political gridlock over the U.S. budget deficit and tax policy, and 24% cited government regulation, as substantial sources of anxiety. While overall uncertainty regarding the global economy remains an issue for 15% of respondents, the sovereign debt crises in Europe are less of a concern, cited by only 3% of those surveyed.

About TD Bank's SurveyTD Bank polled finance executives, including CFOs, comptrollers, treasurers and directors of finance, across the nation to understand their companies' current financial health, as well as their thoughts on the overall economy and their future business plans and expectations. The survey was conducted in November and December 2012 by ORC International, and surveyed a total of 303 executives, half at companies with annual sales of $50 million to less than $500 million (middle-market) and half at companies with annual sales greater than $500 million (corporate).

About TD Bank , America 's Most Convenient Bank ® TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing nearly 8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth ®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. To learn more, visit Find TD Bank on Facebook at and on Twitter at

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit


Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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