Q2 F2023 - Bank of the West Contribution & Financial Results
Highly diversified businesses delivering resilient performance
Canadian Personal & Commercial
U.S. Personal & Commercial
Reported Revenue (teb¹, US$MM)
1,914
Reported Revenue ($MM)
2,529
2,547
2,629
2,546
2,385
763
750
777
738
731
1,654
1,766
1,797
1,852
1,808
Q2'22
Q3'22
Q4'22
■Personal & Business Banking
Q1'23
Q2'23
Commercial
Good revenue, loan and deposit growth year-over-year
Announced the approval of acquisition of AIR MILESⓇ business
Continued market share growth across most product categories
BMO Wealth Management
AUA, AUM ($B)
738
738
767
338
312
322
425
417
429
Q2'22
Q1'23
Q2'23
■AUA
AUM
Good net new client asset growth
•
#1 in ETF net flows Q2'23 and fiscal year-to-date
•
Gaining market share in Mutual Funds
•
•
•
1,297
1,334
1,234
1,147
1,159
871
895
914
829
755
318
363
402
420
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Personal & Business Banking
■Commercial
Significant One Client opportunities across all businesses
Accelerating digital commercial account opening to grow deposits
Increased scale and new segments with Bank of the West
BMO Capital Markets
Reported Revenue (teb¹, $MM)
1,718
1,564
1,586
1,405
1,264
618
636
651
554
451
1,100
928
813
851
935
Q2'22
Q3'22
■Global Markets
Q4'22
Q1'23
Q2'23
Investment and Corporate Banking
Third highest quarter of revenue ever in Q2'23
•
Record quarter in M&A, ranked #2 in Canada
Strong growth in digital and liquid trading business
1 Operating group revenue stated on taxable equivalent basis (teb). These teb adjustments in U.S. P&C (Q2'23 US$6MM, Q1'23 US$6MM, Q4'22 US$6MM, Q3'22 US$5MM, Q2'22 US$4MM) and BMO Capital Markets
(Q2'23 $84MM, Q1'23 $70MM, Q4'22 $61MM, Q3'22 $61MM, Q2'22 $60MM) are offset in Corporate Services
BMOM
Strategic Highlights • May 24, 2023
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