Q2 F2023 - Bank of the West Contribution & Financial Results
Net Interest Margin¹
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Total Bank NIM benefitted from the impact of BOTW and net mark accretion
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NIM decreased from lower net interest income in Corporate Services and continued competitive pressure in deposit pricing
NII ($MM) and NIM ex. Trading %
Q/Q NIM ex. Trading (%)
1.88
1.86
1.85
1.79
1.79
0.04
0.15
1.56
1.62
1.88
1.73
1.83
242
38
Reported: 1.62
Adjusted²: 1.79
122
285
350
407
3,809
4,088
4,125
4,579
3,373
Q2'22
Q3'22
2
Adjusted NII ex trading ($MM)
NII Adjusting Item ($MM)
Adjusted NIM ex trading (%)
2.70
Reported: 1.88
Adjusted²: 1.88
-0.08
-0.01
-0.01
(672)
(389)
(7)
Q1'23
BOTW
Q4'22
Q1'23
Q2'23
Net Mark
Accretion
Corporate
Services
P&Cs &
BMOWM
BMOCM
Q2'23
Trading NII ($MM)
Reported NIM ex trading (%)
Canadian P&C NIM (%)
-0.04
0.06
2.70
-0.02
3.92
Q1'23
Deposit Margins
Loan Margins
Mix / Other
Q2'23
0.05
U.S. P&C NIM (%)
0.03
3.96
0.01
-0.05
Q1'23
BOTW
Deposit
Margins
Loan Margins Mix / Other
Q2'23
1 Net interest margin (NIM) is the ratio of net interest income (NII) to average earning assets, expressed as a percentage or in basis points. Net interest margin excluding trading excludes net interest earned on trading
assets. Average earning assets represents the daily average balance of deposits at central banks, deposits with other banks, securities borrowed or purchased under resale agreements, securities, and loans
2 Adjusted results and measures are non-GAAP, see slide 40 for more information and slide 41 for adjustments to reported results
BMOM
Financial Results May 24, 2023
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