Q2 F2023 - Bank of the West Contribution & Financial Results
Balance Sheet
Strong Y/Y loan and deposit growth
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Average gross loans and acceptances up 28% Y/Y, or 25%
excluding the impact of the stronger U.S. dollar due to:
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Average Gross Loans and Acceptances ($B)
646.1
BOTW added $45B to Business & Government loans and $34B
to consumer loans
565.4
33.8
504.8
BMO underlying business & government loans up 11% Y/Y
with good growth across all operating groups
245.9
245.0
226.3
44.9
BMO underlying consumer loans up 8% Y/Y with good
growth in Canadian P&C driven by mortgage and personal
loan products
320.4
321.5
278.5
Average gross loans and acceptances up 14% Q/Q with BOTW
contributing 14% to Q/Q growth
Q2'22
Q1'23
Q2'23
As-at gross loans and acceptances up 15% Q/Q with BOTW
contributing 14% to Q/Q growth
Business & Government
Consumer BOTW
Average customer deposits up 25% Y/Y or 22% excluding the
impact of the weaker U.S. dollar
Average Customer Deposits ($B)
635.7
BOTW added $86B to customer deposits
550.4
80.0
507.2
10.9
BMO underlying customer deposits up 6% Y/Y driven by
higher balances in Canadian P&C and BMO Capital Markets,
partially offset by lower balances in U.S. P&C and BMO
Wealth Management; flat Q/Q
83.9
68.6
39.7
56.6
56.8
161.7
164.6
158.2
35.2
As-at customer deposits up 15% Q/Q or BMO underlying down
1% excluding the impact of the weaker U.S. dollar, driven by
lower balances in U.S. P&C, BMO Wealth Management and BMO
Capital Markets, partially offset by higher Canadian P&C balances
BMOM
223.6
245.3
253.0
Q2'22
Q1'23
Q2'23
P&BB
Commercial
Wealth Management
Capital Markets
BOTW
Financial Results May 24, 2023
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