Financial Results
Corporate Services
Adjusted¹ net loss of $311MM and reported net loss of
$757MM, compared with adjusted¹ net loss of $104MM
and reported net income of $2,251MM in the prior year
Reported results in the current quarter included the impact
of $434MM ($583MM pre-tax) acquisition and integration
costs related to Bank of the West
($MM)²
Reported
Adjusted¹
Q4 23 Q3 23
Q4 22
Q4 23
Q3 23
Q4 22
Revenue
(141)
(152)
4,003
(127) (11)
(23)
Group teb offset
(95)
(89) (68)
(95) (89) (68)
Total Revenue (teb)
(236)
(241) 3,935
(222) (100) (91)
Expenses
800
686
Total PCL (recovery)
Income (loss) before Taxes
Net Income (Loss)
U.S. Net Income (Loss) ($US)
(1)
(1,035) (930) 2,985
(757) (650) 2,251
(258) (176) 1,787
3
945
5
215
184
133
3
(1)
(436) (287)
(311) (159) (104)
5
(229)
69
96
40
Prior period amounts have been reclassified to conform to the current period presentation
1 Adjusted results and measures are non-GAAP. See slide 39 for more information and slide 40 for adjustments to reported results
2 Operating group revenue, income before taxes, income taxes and associated measures are on a taxable equivalent basis (teb). The teb adjustment is offset in Corporate Services
BMOM
Financial Results ⚫ December 1, 2023
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