News Releases

Financial Results Highlights:

Third Quarter 2016 Compared with Third Quarter 2015:

- Net income of $1,245 million, up 4%; adjusted net income(1) of $1,295 million, up 5%

- EPS(2) of $1.86, up 3%; adjusted EPS(1, 2) of $1.94, up 4%

- ROE of 13.0%, compared with 13.6%; adjusted ROE(1) of 13.5%, compared with 14.0%

- Provisions for credit losses of $257 million, compared with $160 million

- Basel III Common Equity Tier 1 Ratio of 10.5%

Year-to-Date 2016 Compared with Year-to-Date 2015:

- Net income of $3,286 million, up 3%; adjusted net income(1) of $3,625 million, up 6%

- EPS(2) of $4.90, up 3%; adjusted EPS(1, 2) of $5.42, up 6%

- ROE of 11.4%, compared with 12.3%; adjusted ROE(1) of 12.6%, compared with 13.2%

- Provisions for credit losses of $641 million, compared with $484 million

- The Asia Pacific (ex-Japan) ETF industry has surpassed US$123 billion and experienced record net inflows of US$11 billion in the first half of 2016

- Growing use of smart beta and fixed income ETFs

- Millennials are on par with older generations for setting budgets in advance of a season of high spending

- Millennials are the most likely age group to pay off their credit card balances in full, and the least likely age group to carry a large credit card balance

- Millennials are the least likely of any age group to use summer as an excuse to spend without considering long-term implications

- The most important financial priority for Millennials is to save more, while those aged 55 and over prioritize investing effectively and tax efficiency

- Twenty-nine per cent of Canadians are concerned they will not be able to save enough to reach their financial goals

- Millennials are more likely to have savings concerns (35 per cent) compared to Boomers (29 per cent)

- The Canadian ETF industry has crossed the C$100 billion milestone and has experienced C$10.6 billion in inflows year to date

- Trends include increased use of smart beta and fixed income ETFs

- New service first of its kind from a major Canadian financial institution - another example of how BMO is enhancing the customer experience through innovative products and services

- Fastest way to open an account via smartphone and eliminates need to go to the branch or download an app

- Addresses customers' mobile-first mindset and increasing expectation of speed and convenience

- Marks the largest fundraising event held during Toronto's Pride Month celebrations

- To date, the Run has raised more than $1 million for local charities that support the lesbian, gay, bisexual and transgender (LGBTQ+) community

- New office provides expanded and dedicated commercial banking resources and local expertise.

- Move builds off BMO's long history in Texas, and augments recent acquisition of Irving-based BMO Transportation Finance team, which has approximately 180 employees in the Dallas/Fort Worth Area and is led by Dan Clark.

- Office has ambitious growth plans, as it is expected to double in size over next 2-3 years.