Q2 F2023 - Bank of the West Contribution & Financial Results
Reported
Adjusted¹
Q2 23
Revenue
Q1 23
(157) (2,094) 3,496
Q2 22
Q2 23
Q1 23
Q2 22
(150)
(77)
(67)
Group teb offset
(92)
(78)
(65)
(92)
(78) (65)
Total Revenue (teb)
Expenses
(249)
(2,172) 3,431
(242) (155)
(132)
855
434
125
133
197
72
Total PCL (recovery)
705 (5)
(1,809) (2,601) 3,305
(1,255) (2,211) 2,466
U.S. Net Income (Loss) ($US)1 (734) (1,203) 2,052
1
(5)
1
(375) (347)
(205)
(187) (195) (111)
49
26
9
Corporate Services
•
•
Adjusted¹ net loss of $187MM and reported net loss
of $1,255MM, compared with an adjusted¹ net loss
of $111MM and reported net income of $2,466MM
in the prior year
Reported results in the current quarter include the
impact of:
$517MM ($705MM pre-tax) of initial provision
for credit losses on the purchased BOTW
performing loan portfolio
$545MM ($722MM pre-tax) acquisition and
integration costs related to the acquisition of
BOTW
($MM) 2
Income before Taxes
Net Income (Loss)
1 Adjusted results and measures are non-GAAP, see slide 40 for more information and slide 42 for adjustments to reported results
2 Operating group revenue, income taxes and associated measures are on a taxable equivalent basis (teb). This teb adjustment is offset in Corporate Services
BMOM
Financial Results May 24, 2023
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