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.

- 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

- Event features industry leaders from the agriculture, protein, food, fertilizer, retail distribution, restaurant and supermarket sectors

- First-Time Budget for 2016 has risen to $246,378, an increase of 27.5 percent since 2014

- Expected down payment is 10 percent

- Majority of first-time buyers have made lifestyle cutbacks to save money

- Event features industry leaders from the agriculture, protein, food, fertilizer, retail distribution, restaurant and supermarket sectors