Q2 F2023 - Bank of the West Contribution & Financial Results
Well-positioned for continued growth
Highlights
Q2'23
YTD'23
Reported Adjusted¹
Reported Adjusted¹
•
Successfully completed acquisition
of Bank of the West (BOTW)
Net Income
$1.1B
$2.2B
$1.3B $4.5B
• Canadian and U.S. P&C businesses
Diluted EPS
$1.30
$2.93
$1.62
$6.15
delivered continued good PPPT²
performance
PPPT2Y/Y Growth
(64)%
7%
(69)%
1%
•
Strong risk management and credit
Efficiency Ratio³
71.0%
60.2%
76.1%
58.8%
performance
•
Strong capital position, following
Return on Equity
5.6%
12.6%
3.4%
13.0%
the closing of the largest
acquisition in our history
Return on Tangible
Common Equity4
8.4%
17.2%
4.5%
15.7%
CET15
12.2%
1 Adjusted results and measures are non-GAAP, see slide 40 for more information and slide 41 for adjustments to reported results
2 Reported and adjusted Pre-Provision Pre-Tax earnings (PPPT) are non-GAAP measures. See slide 40 for more information and slide 44 for calculation of PPPT
3 Reported and adjusted net revenue and measures calculated based on net revenue are non-GAAP measures. Net revenue is net of insurance claims, commissions and changes in policy benefit liabilities (CCPB). Efficiency
ratio is calculated based on net revenue and is also a non-GAAP Measure. See slide 40 for more information and slide 43 for calculation of net revenue
4 Reported and Adjusted Return on Tangible Common Equity (ROTCE) are non-GAAP measures. See slide 40 and Non-GAAP and Other Financial Measures section of the Second Quarter 2023 MD&A for more information
5 The Common Equity Tier 1 (CET1) Ratio is disclosed in accordance with OSFI's Capital Adequacy Requirements (CAR) Guideline
BMOM
Strategic Highlights • May 24, 2023
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