Q2 F2023 - Bank of the West Contribution & Financial Results
Summary of Reported and Adjusted Results by Operating Group
(Canadian $ in millions unless otherwise stated)
Q2 23
Q1 23
Q4 22
Q3 22
Q2 22
YTD 23
YTD 22
Canadian P&C
Reported Net Income
861
980
917
965
940
1,841
1,944
Acquisition and integration costs
2
2
Amortization of acquisition-related intangible assets
1
1
1
Adjusted Net Income
864
980
917
965
941
1,844
1,945
U.S. P&C
(USD)
Reported Net Income
581
520
488
445
464
1,101
1,000
Amortization of acquisition-related intangible assets
57
1
1
1
1
58
Adjusted Net Income
638
521
489
446
465
1,159
1,002
BMO Wealth Management
Reported Net Income
284
277
298
324
314
561
629
Amortization of acquisition-related intangible assets
1
1
1
1
2
2
Adjusted Net Income
285
278
298
325
315
563
631
BMO Capital Markets
Reported Net Income
380
503
357
262
448
883
1,153
Acquisition and integration costs
2
3
2
1
2
5
Amortization of acquisition-related intangible assets
6
4
4
3
3
10
7
Adjusted Net Income
388
510
363
266
453
898
1,165
Corporate Services
Reported Net Income
(1,255)
(2,211)
2,251
(754)
2,466
(3,466)
2,694
Impact of divestitures
(8)
6
9
57
Management of Fair Value Changes on the Purchase of Bank of the West
1,461
(3,336)
694
(2,612)
Acquisition and integration costs
545
178
143
61
26
Legal provision
22 1
1,461
(3,025)
723
33
6
Impact of Canadian tax measures
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6
846
12
371
371
Initial provision for credit losses on purchased performing loans
517
517
Adjusted Net Income
(187)
Total Bank
Reported Net Income
1,059
(195)
247
(104)
4,483
7
(111)
(382)
(241)
1,365
4,756
1,306
7,689
Impact of divestitures
(8)
6
9
57
Management of Fair Value Changes on the Purchase of Bank of the West
1,461
(3,336)
694
(2,612)
1,461
(3,025)
Acquisition and integration costs
549
181
145
Amortization of acquisition-related intangible assets
85
6
6
Legal Provisions
6
6
846
Impact of Canadian tax measures
371
Initial provision for credit losses on purchased performing loans
517
Adjusted Net Income
2,216
2,272
2,136
2,132
U.S. Segment
Reported Net Income
(104)
(558)
2,306
(28)
(USD)
Impact of divestitures
(3)
Management of Fair Value Changes on the Purchase of Bank of the West
Acquisition and integration costs
1,093
(2,470)
545
8ཕ| | | ལ༹ྷནྟུ། ྴ
62
28
730
38
5
6
91
12
12
371
517
2,187
4,488
4,771
2,656
(662)
3,801
(2)
(42)
(2,062)
1,093
(2,387)
400
132
106
49
23
532
30
Amortization of acquisition-related intangible assets
61
4
4
5
4
65
8
Legal provision
4
5
621
9
Initial provision for credit losses on purchased performing loans
Adjusted Net Income
379
740
379
676
564
571
619
1,416
1,410
Refer to footnotes (1) to (8) in the Non-GAAP and other Financial Measures table on slide 41 for details on adjusting items, and the Non-GAAP and Other Financial Measures and Summary Quarterly Earnings Trend sections
of the Second Quarter 2023 MD&A for further information
BMOM
Financial Results
•
May 24, 2023
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