Canadian Personal & Commercial Banking - Financial Results
Corporate Services
Adjusted¹ net loss of $159MM and reported
net loss of $650MM, compared with an
adjusted¹ net income of $7MM and reported
net loss of $754MM in the prior year
Reported results in the current quarter include
the impact of:
$363MM ($487MM pre-tax) acquisition and
integration costs related to Bank of the
West
$131MM ($160MM pre-tax) related to tax
measures enacted by the Canadian
government that amended the GST/HST
definition for financial services
Reported
Adjusted¹
($MM) 2
Q3 23
Q2 23 Q2 22
Q3 23
Q2 23
Q3 22
Revenue
(152)
(157)
(908)
(11)
(150)
37
Group teb offset
(89)
(92)
(67)
(89)
(92) (67)
Total Revenue (teb)
(241)
(249)
(975)
(100) (242) (30)
Expenses³
730
855
152
228
133
63
Total PCL (recovery)
3
705 (4)
3
(4)
Income (Loss) before Taxes
(974) (1,809) (1,123)
(331)
(375)
(89)
Net Income (Loss)
(650) (1,255) (754)
U.S. Net Income (Loss) ($US) 1 (176) (734) (525)
(159)
(187)
7
96
49
68
88
1 Adjusted results and measures are non-GAAP, see slide 37 for more information and slide 39 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
3 Q3'23 severance costs $77MM pre-tax, $54MM after-tax
BMOM
Financial Results ⚫ August 29, 2023
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