Q2 F2023 - Bank of the West Contribution & Financial Results
Canadian and U.S. deposit trends
Canadian P&C and BMO Wealth Management deposits
CDE$B, average balances
309
314
266
290
6%
5%
3%
238
2%
21%
20%
24%
4%
24%
Commercial
20%
25%
32%
35%
26%
34%
P&BB/
BMO Wealth
48%
49%
42%
39%
43%
Management
F'20
F'21
Demand Deposits
F'22
Q1'23
Q2'23
Term Deposits
U.S. P&C and BMO Wealth Management deposits
US$B, average balances
178
17%
120
117
118
105
86
98
33%
11%
10%
14%
11%
Commercial
9%
36%
43%
43%
•
40%
31%
25%
P&BB /
BMO Wealth
38%
34%
26%
24%
24%
25%
Management
21%
19%
21%
23%
23%
F'19
F'20
F'21
F'22
Q1'23
Q2'23 (1)
Chequing & Savings
Money Market & CD's
Continued strong balance growth reflective of stability in the
Canadian banking industry
Continued customer balance shift to term deposits given the
significant increase in interest rates, returning to historical levels
•
Deposits are well-diversified, further enhanced by BOTW which
contributed US$63B in the current quarter
Recent decline in underlying deposits at BMO and BOTW primarily
reflect industry trends and expected decline in surge deposits, while
remaining well above pre-pandemic levels
We continue to grow new customers and deposits through
competitive tools, products and channels, including national retail
banking and treasury and payments solutions platforms
This slide contains forward-looking statements, please refer to the caution on slide 2
1 Q2'23 US Deposits includes BOTW balances of US$26B in P&BB, US$29B in Commercial and US$8B in BMO Wealth Management
BMOM
Financial Results May 24, 2023
•
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