Investor Presentation
U.S. Personal & Commercial Banking
Strength and Value Drivers
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High-performing team focused on providing a personalized banking
experience that helps our customers make real financial progress
Large-scale commercial banking business expanding into new geographies,
and leading cash management, treasury and payment capabilities
Continued momentum in personal and business banking with a large and
growing customer base, accelerating our digital first model through
innovative partnerships
Consistently strong credit risk management
2024 Strategic Priorities
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Build on our strong franchise and leverage our expanded scale to drive
growth and customer loyalty by continuing to invest in differentiating
capabilities and delivering enhanced One Client experiences
In Personal Banking, continue to drive new customer acquisition, increase
digital engagement, and help customers make real financial progress
In Commercial Banking, maintain focus on key sectors and geographies,
and drive deeper relationships with clients through innovative capabilities
and products, including climate transition and digital first solutions
Drive efficiencies by simplifying and streamlining operations, and investing
in digital capabilities
US$
Q1'24 Financial Highlights
Reported
Adjusted¹
Net Income
$419MM
$475MM
Net Income Y/Y Growth
(15.5)%
(4.5)%
Revenue Y/Y Growth (teb)²
41.9%
41.9%
PPPT³ Y/Y Growth
7.9%
18.6%
ROE
6.5%
7.4%
Efficiency Ratio²
59.7%
55.6%
Operating Leverage²
(38.4)%
(26.4)%
$152B
$161B
$560MM
$635MM
Average Gross Loans & Acceptances
Average Deposits
Net Income (C$)
Net Income (US$MM) and NIM² (%)
3.97
3.99
3.78
3.86
3.86
539
495
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Foster an inclusive, winning culture, focused on alignment, empowerment
and recognition, with a commitment to a diverse and inclusive workplace
433
419
376
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Reported Net Income (US$MM)
NIM (%)
Prior period amounts have been reclassified to conform with the current period presentation
1 Adjusted results and measures are non-GAAP, see slide 56 for more information and slide 58 for adjustments to reported results
2 Operating group revenue is stated on a taxable equivalent basis (teb). This teb adjustment (Q1'24 US$7MM) is offset in Corporate Services. Net Interest Margin (NIM), operating leverage and efficiency ratio are calculated
based on revenue (teb)
3 Reported and adjusted Pre-Provision Pre-Tax earnings (PPPT) are non-GAAP measures. See slide 56 for more information and slide 59 for calculation of PPPT
See slide 60 for more information on the reported and adjusted results of our operating groups
BMOM
Investor Presentation ⚫ February 2024
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