Financial Results
Highly diversified businesses delivering resilient performance
Canadian Personal & Commercial Banking
Reported Revenue ($MM)
2,716
2,796
2,778
2,557
2,490
768
757
761
765
732
Commercial
U.S. Personal & Commercial Banking
Reported Revenue (teb¹, US$MM)
1,875
1,811
1,822
1,833
1,292
1,117
Commercial
1,079
1,101
1,116
896
1,792
1,758
1,948
2,039
2,017
■Personal &
Business
Banking
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
758
732
721
717
396
Personal &
Business
Banking
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
•
Continuing to expand suite of innovative products with the
launch of BMO eclipse rise Visa
•
Attracting newcomers to Canada with award-winning digital
offerings and services
BMO Wealth Management
Strong commercial new client acquisition across U.S. footprint and
>90% retention of Bank of the West clients post conversion
Momentum in new retail account acquisition activity, including 38%
Y/Y growth in new deposit relationships in California
BMO Capital Markets
Reported Revenue ($MM)
1,525
1,465
1,128
1,293
50
1,328
265
218
Insurance
81
Reported Revenue (teb¹, $MM)
1,699
1,579
1,651
1,589
1,463
606
647
706
637
Investment
600
and Corporate
Banking
1,180
1,243
1,260
1,247
1,247
Wealth and
1,093
Asset
932
863
945
952
■Global
Markets
Management
(52)
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
•
Top honors in multiple categories at the 2023 Canada LSEG Lipper
Fund Awards; led all ETF providers at the 2023 Fundata awards
•
Making life insurance coverage more accessible to Canadians by
simplifying the underwriting process and requirements
Ranked #1 in completed Canadian M&A and Canadian ECM²
Designated a retail Gilt-edged Market Maker in the U.K., growing
our global platform
Prior period amounts have been reclassified to conform with the current period presentation, including the retrospective application of IFRS 17
1 Operating group revenue stated on taxable equivalent basis (teb). These teb adjustments in U.S. P&C (Q1'24 US$7MM, Q4'23 US$7MM, Q3'23 US$6MM, Q2'23 US$6MM, Q1'23 US$6MM) and BMO Capital Markets (Q1'24
$19MM, Q4'23 $86MM, Q3'23 $81MM, Q2'23 $84MM, Q1'23 $70MM) are offset in Corporate Services
2 Source: Bloomberg for Q1 2024
BMOM
Strategic Highlights February 27, 2024
·
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