Investor Presentation
Solid financial performance
Medium Term Financial Objectives 1,2
Earnings Per Share ($)
EPS Growth
7% to 10% per year
Return on Equity
15% or more
Return on Tangible
18% or more
Common Equity
19.99
11.58
12.96
13.23
11.81
5.76
Operating Leverage
2% or more
2021
2022
2023
Reported
■Adjusted²
Capital
Capital ratios that exceed
regulatory requirements
Capital Position6,7 (%)
22.6
2.5
1.9
Credit Ratings³
16.0
16.1
16.2
16.6
Moody's
S&P
DBRS
Fitch
2.1
2.1
2.1
2.1
1.7
1.7
1.6
1.7
Long term deposits /
legacy senior debt4
Aa2
A+
18.2
AA
AA
12.2
12.3
12.5
12.8
Senior debt5
A2
A-
AA (low)
AA-
Outlook
Stable
Stable
Stable
Stable
Q1'23
Q2'23
CET1
Q3'23
Q4'23
Q1'24
Additional Tier 1
Tier 2
Prior period amounts have been reclassified to conform with the current period presentation, including the retrospective application of IFRS 17
1 We have established medium-term financial objectives for certain important performance measures. Medium-term is generally defined as three to five years, and performance is measured on an adjusted basis
2 Adjusted results and measures are non-GAAP, see slide 56 for more information and slide 57 for adjustments to reported results
3 A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Ratings are as at January 31, 2024
4 Long term deposits/legacy senior debt includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the Bank Recapitalization (Bail-In) Regime
5 Subject to conversion under the Bank Recapitalization (Bail-In) Regime
6 CET1, Additional Tier 1, Tier 2 and Total Capital ratios are disclosed in accordance with Office of the Superintendent of Financial Institutions' (OSFI) Capital Adequacy Requirements (CAR) Guideline
7 Decline in Q2'23 includes impact from closing the acquisition of Bank of the West
BMOM
Investor Presentation ⚫ February 2024
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