Investor Presentation February 2024
Summary of Reported and Adjusted Result by Operating Group
(Canadian $ in millions unless otherwise stated)
Revenue
Total Bank
Expenses
Pre-Provision, Pre-tax Earnings
Reported
Q1 24 Q4 23
7,671 8,319 5,099
5,389 5,679 4,382
2,282 2,640 717
Adjusted
Reported
Adjusted
(Canadian $ in millions unless otherwise stated)
Q1 23
Total PCL (recovery)
627
446
217
Net Income
1,292
1,710
133
1,893
Q1 24 Q4 23
7,849 8,333 7,116
4,783 4,976 4,133
3,066
3,357 2,983
627 446 217
2,243 2,158
Q1 23
Wealth & Asset Management
BMO Wealth
Management
Insurance
Revenue
Q1 24 Q4 23
1,247 1,247 1,180
81
218 (52)
1,328 1,465 1,128
Q1 23
Q1 24
Q4 23
Q1 23
1,247 1,247
81
1,180
218 (52)
1,328 1,465 1,128
Expenses
997
990
924
996
988
923
Pre-Provision, Pre-tax Earnings
331
475
204
332
477
205
U.S. Segment Net Income (US$)
184
364 (573)
623
750
661
Total PCL
13
1
6
13
1
6
Diluted EPS ($)
1.73
2.19 0.14
2.56
2.93
3.06
Net Income
240
351
159
241
352
160
Efficiency Ratio (%)
70.2 68.3 85.9
60.9
59.7
58.1
Wealth & Asset Management NI
187
202
202
188
203
203
ROE (%)
7.2
9.3
0.6
10.6
12.4
12.9
Insurance NI
53
149
(43)
53
149 (43)
ROTCE² (%)
10.3
13.5
0.7
14.3
17.1
14.0
Efficiency Ratio (%)
75.0
67.7
82.0
74.9
67.5
81.9
ROE (%)
20.3
28.8
15.5
20.4
28.9
15.6
Net Interest Income
2,141
2,096
Canadian
Non-Interest Revenue
637
P&C
Revenue
2,778
700
2,796
Expenses
1,210 1,260
1,959
598
2,557
1,105
Pre-Provision, Pre-tax Earnings¹
1,568 1,536
1,452
2,141 2,096
1,959
637 700 598
2,778 2,796 2,557
1,205 1,254 1,105
1,573 1,542 1,452
Global Markets
952
945 1,093
952
945
1,093
BMO Capital
Markets³
I&CB
637
Revenue (teb)
Expenses
Pre-Provision, Pre-tax Earnings¹
706
1,589 1,651 1,699
1,116 1,052 1,091
473 599 608
606
637
706
606
1,589 1,651
1,699
1,095
1,048 1,082
494
603
617
Total PCL (recovery)
295
265
144
295
265
144
Total PCL (recovery)
(22) 1 (10)
(22)
1 (10)
Net Income
921
922
951
925
926
951
Net Income
393
472
488
408
475
495
Efficiency Ratio (%)
43.6
45.0
43.2
43.4 44.8
43.2
U.S. Net Income ($US)
131
118
97
138
118
100
ROE (%)
22.8
26.1
30.9
23.0
26.3 30.9
Efficiency Ratio (%)
70.2
63.7 64.2
69.0 63.5 63.7
ROE (%)
11.6
15.2
15.7
12.0 15.3
15.9
Net Interest Income (teb)
1,537
US P&C
Non-Interest Revenue
(US$MM)³
Revenue (teb)
Expenses
1,521 1,067
296
301 225
1,833 1,822 1,292
1,094 1,138 607
1,537 1,521 1,067
296 301 225
1,833 1,822 1,292
1,019 1,062 606
Revenue
(477)
Corporate
Services³
Group teb offset
Revenue (teb)
Expenses
(81) (2019)
(28) (95) (78)
(299) (67) (2)
(28) (95)
(78)
(505)
(176) (2097)
(327)
(162) (80)
600
824
447
121
239
210
Pre-Provision, Pre-tax Earnings¹
739
684
685
814
760
686
Total PCL (recovery)
217
129
41
217
129
41
Total PCL (recovery)
Net Income
51
3
22
51
3
22
(822) (626) (2130)
(316) (180) (114)
Net Income
419
433
495
475
490
496
Net Income (CDE$)
Efficiency Ratio (%)
ROE (%)
59.7
6.6
560.0 591.0 665.0
62.4 47.0
7.1 18.7
635.0 670.0 666.0
55.6 58.2
7.5
8.1
46.9
18.7
Prior period amounts have been reclassified to conform with the current period presentation, including the retrospective application of IFRS 17
Adjusted results and measures are non-GAAP. See slide 57 for adjustments to reported results, and slide 56 and the Non-GAAP and Other Financial Measures sections of the First Quarter 2024 MD&A for further information
1 Reported and adjusted pre-provision pre-tax earnings (PPPT) are non-GAAP measures. See slide 56 for more information and slide 59 for calculation of PPPT
2 Reported and adjusted return on tangible common equity (ROTCE) are non-GAAP measures. See slide 56 and Non-GAAP and Other Financial Measures section of the First Quarter 2024 MD&A for more information
3 U.S P&C and BMO Capital Markets operating group results are presented on a taxable equivalent basis (teb). This teb adjustment is offset in Corporate Services
BMOM
Investor Presentation ⚫ February 2024
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