Tuesday, February 24, 2015

Bank of Montreal - BMO.t

Bank of Montreal - BMO.t is a highly diversified financial services provider based in North America. With total assets of $537 billion and approximately 45,500 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers.

In the United States, BMO serves customers through BMO Harris Bank.

On Feb. 24, 2015 the company reported NUMBERS

Financial Results Highlights:

First Quarter 2015 Compared with First Quarter 2014:
- Net income of $1.0 billion, down 6%; adjusted net income(1) of $1,041 million, down 4%
- EPS(2) of $1.46, down 8%; adjusted EPS(1,2) of $1.53, down 5%
- ROE of 11.8%, compared with 14.2%; adjusted ROE(1) of 12.3%, compared with 14.5%
- Provisions for credit losses of $163 million, compared with $99 million
- Basel III Common Equity Tier 1 Ratio of 10.1%

TORONTO, ONTARIO--(Marketwired - Feb. 24, 2015) - For the first quarter ended January 31, 2015, BMO Financial Group reported net income of $1.0 billion or $1.46 per share on a reported basis and net income of $1,041 million or $1.53 per share on an adjusted basis.

"BMO's first quarter results reflect the impact of an unsettled environment in which we saw significant movements in oil prices, long-term interest rates and the Canadian dollar. Against this backdrop, underlying business performance was solid, with combined Personal and Commercial Banking adjusted earnings of $708 million, up 6% year over year, reflecting the benefits of our diversified and growing customer base. We also had good results in our Traditional Wealth businesses, with adjusted earnings up 28% from last year," said Bill Downe, Chief Executive Officer, BMO Financial Group.

"Credit performance continued to be good with higher provisions for credit losses reflecting lower recoveries compared to last year.

"Our capital position remains strong with a Common Equity Tier 1 Ratio of 10.1%. In addition, book value per share increased by 10% from the prior quarter. "Looking ahead, each of our operating businesses is well positioned to realize on the investments we have made over the past few years," concluded Mr. Downe.

Concurrent with the release of results, BMO announced a second quarter 2015 dividend of $0.80 per common share, unchanged from the preceding quarter and up $0.04 per share or 5% from a year ago, equivalent to an annual dividend of $3.20 per common share.