TD Bank 4q08 results

Although i said i don't care any bank other than TD & Royal Bank, I still did an analysis and compare all the bank in Canada's 08 annual results (highlighted means the best among the 5):

	TD	BMO	CM	BNS	RY
net income	-4.1%	-7.2%	-162%	-22.4%	-17.1%
total equity	12.5%	12.3%	-21.7%	7.2%	-5.8%
EPS	-11.4%	-8.5%	-163.3%	-24.6%	-19.6%
BV	25.8%	13.2%	-11.7%	8.5%	-16.4%
Return on Equity	14.4%	13.0%	-19.4%	16.7%	18.0%
Net interest margin	1.9%	1.6%	1.5%	1.8%	1.4%
Fee / Tol Rev	41.8%	50.2%	-40.2%	35.0%	56.6%
Cost / Revenue	56.4%	65.5%	63.2%	64.9%	63.1%
Tier 1 Capital	9.8%	9.4%	10.5%	9.3%	9.0%
bad debt ratio	0.5%	0.6%	0.2%	0.2%	1.0%
current price as of 12/4/08	41.92	34.05	46.18	32.26	37.17
P/E	8.56	9.06	(7.84)	10.51	10.90
P/B	1.14	1.06	1.57	1.70	0.79
The Best in Sector	7.00	1.00	1.00	1.00	3.00

You can see why I am only interesting in TD & Royal bank now, cuz they are the best, with 7 "best" and 3 "best" among sector.
(Please note, CIBC has 10.5% Tier 1 capital higher than TD's 9.8%, but mainly due to capital injection, so it doesn't deserve to be the best).

In Dec 09, just 5 days, Bank sector fall 9.5%.
In normal day, price is very attractive, but because there is highly uncertainty involve for Canada's economy and the real estate market. That's why i said i will buy if it fall 20%. TD will be my top choice, but other than that, I won't just you to buy any other one includes Royal Bank.