BMO’s Second Quarter 2023 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended April 30, 2023, is available online at www.bmo.com/investorrelations and at www.sedar.com.
Financial Results Highlights
Second Quarter 2023 Compared with Second Quarter 2022:
- Net income of $1,059 million, compared with $4,756 million; adjusted net income1,3 of $2,216 million, compared with $2,187 million
- Reported earnings per share (EPS)2 of $1.30, compared with $7.13; adjusted EPS1,2,3 of $2.93, compared with $3.23
- Provision for credit losses (PCL) of $1,023 million, compared with $50 million; adjusted PCL1,3 of $318 million, compared with $50 million
- Return on equity (ROE) of 5.6%, compared with 34.5%; adjusted ROE1,3 of 12.6%, compared with 15.7%
- Common Equity Tier 1 (CET1) Ratio4 of 12.2%, compared with 16.0%
Year-to-Date 2023 Compared with Year-to-Date 2022:
- Net income of $1,306 million, compared with $7,689 million; adjusted net income1,3 of $4,488 million, compared with $4,771 million
- Reported EPS2 of $1.62, compared with $11.57; adjusted EPS1,2,3 of $6.15, compared with $7.12
- PCL of $1,240 million, compared with a recovery of $49 million; adjusted PCL1,3 of $535 million, compared with a recovery of $49 million
- ROE of 3.4%, compared with 28.0%; adjusted ROE1,3 of 13.0%, compared with 17.2%
BMO Financial Group Increases Common Share Dividend By 4 Cents From The Prior Quarter, Up 6 Per Cent From The Prior Year
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