News Releases

- 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.

- Now offering the lowest cost fixed income ETFs in Canada

- Management fees on broad fixed income ETFs reduced by more than 50 per cent

Over Half of Business Owners and Executives Surveyed Expect Their Investment in Innovation to Increase

Acquisition adds experienced M&A team, expands footprint and deepens focus on key industries

Financial Results Highlights:

Second Quarter 2016 Compared with Second Quarter 2015:

- Net income of $973 million, down 3%; adjusted net income(1) of $1,152 million, up 1%

- EPS(2) of $1.45, down 3%; adjusted EPS(1,2) of $1.73, up 1%

- ROE of 10.1%, compared with 11.4%; adjusted ROE(1) of 12.1%, compared with 13.2%

- Provisions for credit losses of $201 million, compared with $161 million

- Basel III Common Equity Tier 1 Ratio of 10.0%

- Dividend increased by $0.02 or 2% from the preceding quarter to $0.86

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

- Net income of $2,041 million, up 2%; adjusted net income(1) of $2,330 million, up 7%

- EPS(2) of $3.03, up 3%; adjusted EPS(1,2) of $3.48, up 7%

- ROE of 10.5%, compared with 11.6%; adjusted ROE(1) of 12.1%, compared with 12.8%

- Provisions for credit losses of $384 million, compared with $324 million