Bank of Montreal(NYSE:BMO) 
Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services compris...
Website: http://www.bmo.com
Founded: 1817
Full Time Employees: 43,360
Sector: Financial Services
Industry: Banks-Diversified
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At a glance:
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Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-04 |
|---|---|
summary income statement | |
net interest income | 21,487,000,000 |
non-interest revenue | 14,787,000,000 |
revenue | 36,274,000,000 |
yoy | |
qoq | |
provision for credit losses on impaired loans | 3,147,000,000 |
provision for credit losses on performing loans | 470,000,000 |
total provision for credit losses | 3,617,000,000 |
non-interest expense | 21,107,000,000 |
provision for income taxes | 2,825,000,000 |
net income | 8,725,000,000 |
yoy | |
qoq | |
net income margin % | 24.05% |
net income attributable to non-controlling interest in subsidiaries | 16,000,000 |
dividends on preferred shares and distributions on other equity instruments | 436,000,000 |
net income available to common shareholders | 8,273,000,000 |
adjusted net income | 9,248,000,000 |
adjusted net income available to common shareholders | 8,796,000,000 |
common share data | |
basic earnings per share | 11.46 |
diluted earnings per share | 11.44 |
adjusted diluted earnings per share | 12.16 |
book value per share | 111.57 |
closing share price | 174.23 |
number of common shares outstanding | |
end of period | 708.9 |
average basic | 721.9 |
average diluted | 723.3 |
market capitalization | 123,513 |
dividends declared per common share | 6.44 |
dividend yield | 3.7 |
dividend payout ratio | 56.2 |
adjusted dividend payout ratio | 52.8 |
financial measures and ratios | |
return on equity | 10.6 |
adjusted return on equity | 11.3 |
return on tangible common equity | 14.3 |
adjusted return on tangible common equity | 14.7 |
efficiency ratio | 58.2 |
adjusted efficiency ratio | 56.3 |
operating leverage | 2.4 |
adjusted operating leverage | 4.3 |
net interest margin on average earning assets | 1.65 |
adjusted net interest margin, excluding trading net interest income, and trading and insurance assets | 1.99 |
effective tax rate | 24.45 |
adjusted effective tax rate | 24.32 |
total pcl-to-average net loans and acceptances | 0.53 |
pcl on impaired loans-to-average net loans and acceptances | 0.46 |
balance sheet and other information | |
assets | 1,476,802 |
average earning assets | 1,305,072 |
gross loans and acceptances | 682,922 |
net loans and acceptances | 677,872 |
deposits | 976,202 |
common shareholders’ equity | 79,095 |
total risk-weighted assets | 437,945 |
assets under administration | 864,891 |
assets under management | 506,661 |
capital and liquidity measures | |
common equity tier 1 ratio | 13.3 |
tier 1 capital ratio | 15 |
total capital ratio | 17.3 |
leverage ratio | 4.3 |
tlac ratio | 29.7 |
liquidity coverage ratio | 132 |
net stable funding ratio | 117 |
foreign exchange rates | |
as at canadian/u.s. dollar | 1.402 |
average canadian/u.s. dollar | 1.403 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-04 | 2025-07-31 | 2025-04-30 | 2024-01-31 | 2023-12-01 | 2023-07-31 |
|---|---|---|---|---|---|---|
assets | ||||||
cash and cash equivalents | 67,484,000,000 | 2,348,000,000 | 2,312,000,000 | 74,659,000,000 | 77,934,000,000 | 2,248,000,000 |
interest bearing deposits with banks | 2,838,000,000 | -4,207,000,000 | -3,215,000,000 | 4,203,000,000 | 4,125,000,000 | -4,658,000,000 |
securities | 61,014,000,000 | 58,471,000,000 | 56,996,000,000 | |||
trading | 192,303,000,000 | 138,034,000,000 | 124,556,000,000 | |||
fair value through profit or loss | 21,354,000,000 | 18,047,000,000 | 16,720,000,000 | |||
fair value through other comprehensive income | 113,209,000,000 | 69,493,000,000 | 62,828,000,000 | |||
debt securities at amortized cost | 96,610,000,000 | 121,127,000,000 | 116,814,000,000 | |||
securities - sum | 423,476,000,000 | 322,379,000,000 | ||||
securities borrowed or purchased under resale agreements | 129,421,000,000 | -128,279,000,000 | -119,487,000,000 | 115,600,000,000 | 115,662,000,000 | -113,442,000,000 |
loans | ||||||
residential mortgages | 196,033,000,000 | 219,000,000 | 208,000,000 | 176,550,000,000 | 177,250,000,000 | 43,000,000 |
consumer instalment and other personal | 92,741,000,000 | 27,131,000,000 | 26,997,000,000 | 91,976,000,000 | 104,040,000,000 | 25,351,000,000 |
credit cards | 12,649,000,000 | 12,984,000,000 | 13,221,000,000 | 12,522,000,000 | 12,294,000,000 | 11,700,000,000 |
business and government | 380,788,000,000 | 101,102,000,000 | 105,779,000,000 | 364,761,000,000 | 366,701,000,000 | 89,363,000,000 |
loans - sum | 682,211,000,000 | 660,285,000,000 | ||||
allowance for credit losses | -5,050,000,000 | -5,165,000,000 | -4,960,000,000 | -3,756,000,000 | -3,807,000,000 | -3,520,000,000 |
other assets | ||||||
derivative instruments | 57,151,000,000 | -44,197,000,000 | -49,726,000,000 | 28,746,000,000 | 39,976,000,000 | -33,153,000,000 |
customers’ liability under acceptances | 711,000,000 | -450,000,000 | -438,000,000 | 7,123,000,000 | 8,111,000,000 | |
premises and equipment | 6,252,000,000 | 6,205,000,000 | 6,241,000,000 | |||
goodwill | 16,797,000,000 | 16,182,000,000 | 16,728,000,000 | |||
intangible assets | 4,758,000,000 | 5,001,000,000 | 5,216,000,000 | |||
current tax assets | 1,970,000,000 | 1,738,000,000 | 2,052,000,000 | |||
deferred tax assets | 2,732,000,000 | 3,042,000,000 | 3,081,000,000 | |||
receivable from brokers, dealers and clients | 43,167,000,000 | -42,275,000,000 | -48,401,000,000 | |||
other | 42,884,000,000 | 63,692,000,000 | 64,980,000,000 | 72,002,000,000 | 35,293,000,000 | 52,112,000,000 |
other assets - sum | 176,422,000,000 | 140,039,000,000 | 116,698,000,000 | |||
total assets | 1,476,802,000,000 | 263,325,000,000 | 267,008,000,000 | 1,324,762,000,000 | 1,293,276,000,000 | 234,293,000,000 |
liabilities and equity | ||||||
deposits | 976,202,000,000 | 525,503,000,000 | 512,151,000,000 | 914,138,000,000 | 909,676,000,000 | 462,192,000,000 |
other liabilities | ||||||
acceptances | 711,000,000 | -450,000,000 | -438,000,000 | 7,123,000,000 | 8,111,000,000 | -9,554,000,000 |
securities sold but not yet purchased | 54,876,000,000 | -51,408,000,000 | -53,422,000,000 | 43,466,000,000 | 43,781,000,000 | -46,442,000,000 |
securities lent or sold under repurchase agreements | 134,967,000,000 | -126,759,000,000 | -118,949,000,000 | 108,379,000,000 | 106,108,000,000 | -96,149,000,000 |
securitization and structured entities’ liabilities | 51,562,000,000 | -49,559,000,000 | -51,936,000,000 | 29,663,000,000 | 27,094,000,000 | |
insurance-related liabilities | 20,436,000,000 | 17,612,000,000 | 18,069,000,000 | |||
payable to brokers, dealers and clients | 45,170,000,000 | -46,396,000,000 | -48,732,000,000 | |||
other liabilities - sum | 404,000,000,000 | 325,129,000,000 | 298,335,000,000 | |||
subordinated debt | 8,500,000,000 | -8,466,000,000 | -9,740,000,000 | 8,216,000,000 | 8,228,000,000 | -8,062,000,000 |
total liabilities | 1,388,702,000,000 | 1,247,483,000,000 | 1,216,239,000,000 | |||
equity | ||||||
preferred shares and other equity instruments | 8,956,000,000 | 6,958,000,000 | 6,958,000,000 | |||
common shares | 23,359,000,000 | 23,412,000,000 | 22,941,000,000 | |||
contributed surplus | 373,000,000 | 351,000,000 | 328,000,000 | |||
retained earnings | 47,377,000,000 | 44,161,000,000 | 44,920,000,000 | |||
accumulated other comprehensive income | 7,986,000,000 | 2,368,000,000 | 1,862,000,000 | |||
total shareholders’ equity | 88,051,000,000 | 77,250,000,000 | 77,009,000,000 | |||
non-controlling interest in subsidiaries | 49,000,000 | 29,000,000 | 28,000,000 | |||
total equity | 88,100,000,000 | 86,765,000,000 | 85,833,000,000 | 77,279,000,000 | 77,037,000,000 | 74,194,000,000 |
total liabilities and equity | 1,476,802,000,000 | 640,564,000,000 | 626,877,000,000 | 1,324,762,000,000 | 1,293,276,000,000 | 557,506,000,000 |
total loans, net of allowance | 136,271,000,000 | 141,245,000,000 | 122,937,000,000 | |||
total other assets | 63,692,000,000 | 64,980,000,000 | 52,112,000,000 | |||
table 39 | ||||||
total other liabilities | 28,296,000,000 | 28,893,000,000 | 21,120,000,000 | |||
investments in associates and joint ventures | 1,507,000,000 | 1,461,000,000 | ||||
on-balance sheet financial instruments | ||||||
customers’ liabilities under acceptances | -9,554,000,000 | |||||
securitization and liabilities related to structured entities | -26,667,000,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-07-31 | 2025-04-30 | 2024-01-31 |
|---|---|---|---|
cash flows from operating activities | |||
net income | 368,000,000 | 670,000,000 | 1,292,000,000 |
adjustments to determine net cash flows from operating activities: | |||
securities | 17,000,000 | -53,000,000 | -13,000,000 |
depreciation of premises and equipment | 7,000,000 | 1,000,000 | 244,000,000 |
depreciation of other assets | 0 | -6,000,000 | 9,000,000 |
amortization of intangible assets | -18,000,000 | 17,000,000 | 279,000,000 |
provision for credit losses | -257,000,000 | 427,000,000 | 627,000,000 |
deferred taxes | -142,000,000 | -47,000,000 | 112,000,000 |
share of (profit) in associates and joint ventures | |||
changes in operating assets and liabilities: | |||
trading securities | -3,225,000,000 | 19,797,000,000 | -17,075,000,000 |
derivative assets | -1,707,000,000 | ||
derivative liabilities | 4,106,000,000 | ||
current income taxes | -829,000,000 | -181,000,000 | 327,000,000 |
accrued interest receivable and payable | -332,000,000 | -578,000,000 | 412,000,000 |
insurance-related liabilities | -263,000,000 | ||
brokers, dealers and clients receivable and payable | 6,647,000,000 | ||
other items and accruals | -2,959,000,000 | 6,922,000,000 | -449,000,000 |
deposits | 6,906,000,000 | -34,277,000,000 | 21,914,000,000 |
loans | 2,378,000,000 | -6,980,000,000 | 3,673,000,000 |
securities sold but not yet purchased | -12,732,000,000 | 9,979,000,000 | 598,000,000 |
securities lent or sold under repurchase agreements | 6,580,000,000 | -3,890,000,000 | 4,659,000,000 |
securities borrowed or purchased under resale agreements | 3,766,000,000 | -10,046,000,000 | -2,136,000,000 |
securitization and structured entities’ liabilities | -9,277,000,000 | 3,872,000,000 | 2,857,000,000 |
net cash from operating activities | -1,013,000,000 | -21,502,000,000 | 18,309,000,000 |
capital expenditures | 0 | 0 | 0 |
free cash flows | -1,013,000,000 | -21,502,000,000 | 18,309,000,000 |
cash flows from financing activities | |||
net (decrease) in liabilities of subsidiaries | -4,335,000,000 | ||
proceeds from issuance of subordinated debt | |||
repayment of subordinated debt | |||
proceeds from issuance of preferred shares, net of issuance costs | |||
redemption of preferred shares | |||
net proceeds from issuance of common shares | 7,000,000 | -1,000,000 | 21,000,000 |
net sale of treasury shares | -34,000,000 | ||
common shares repurchased for cancellation | 86,000,000 | ||
cash dividends and distributions paid | -69,000,000 | -479,000,000 | -745,000,000 |
cash dividends paid to non-controlling interest | |||
repayment of lease liabilities | -20,000,000 | 14,000,000 | -92,000,000 |
net cash from financing activities | -1,945,000,000 | 6,782,000,000 | -7,479,000,000 |
cash flows from investing activities | |||
interest bearing deposits with banks | -958,000,000 | ||
purchases of securities, other than trading | 4,229,000,000 | 7,482,000,000 | -24,301,000,000 |
maturities of securities, other than trading | -3,043,000,000 | 1,593,000,000 | 7,089,000,000 |
proceeds from sales of securities, other than trading | 4,237,000,000 | -1,205,000,000 | 5,189,000,000 |
net purchases of premises and equipment and software | 34,000,000 | ||
net cash from investing activities | 4,499,000,000 | 8,006,000,000 | -12,618,000,000 |
effect of exchange rate changes on cash and cash equivalents | 2,782,000,000 | -1,109,000,000 | -1,487,000,000 |
net (decrease) in cash and cash equivalents | |||
cash and cash equivalents at beginning of period | -11,098,000,000 | -1,474,000,000 | 77,934,000,000 |
cash and cash equivalents at end of period | -6,775,000,000 | -9,297,000,000 | 74,659,000,000 |
supplemental disclosure of cash flow information | |||
net cash from operating activities includes: | |||
interest paid in the period | 433,000,000 | -250,000,000 | 10,673,000,000 |
income taxes paid in the period | 260,000,000 | 407,000,000 | 419,000,000 |
interest received in the period | 589,000,000 | -518,000,000 | 15,325,000,000 |
dividends received in the period | -116,000,000 | 88,000,000 | 549,000,000 |
share of (profit) loss in associates and joint ventures | |||
net increase in liabilities of subsidiaries | |||
net increase in cash and cash equivalents | -7,823,000,000 | -3,275,000,000 | |
derivative asset | 14,927,000,000 | ||
derivative liability | -13,948,000,000 | ||
proceeds from issuance of covered bonds | |||
redemption/buyback of covered bonds | -2,327,000,000 | ||
net proceeds from the sale of treasury shares | -1,000,000 | ||
net decrease in interest bearing deposits with banks | -203,000,000 | ||
premises and equipment – net | -232,000,000 | ||
purchased and developed software – net | -160,000,000 | ||
acquisition of radicle group inc. | |||
benefit from credit losses | |||
net income on divestitures | |||
net (increase) in trading securities | |||
change in derivative instruments – increase in derivative asset | |||
– increase in derivative liability | |||
net increase in current tax asset | |||
net increase in current tax liability | |||
change in accrued interest – increase in interest receivable | |||
– increase in interest payable | |||
changes in other items and accruals | |||
net increase in deposits | |||
net (increase) in loans | |||
net increase in securities sold but not yet purchased | |||
net increase in securities lent or sold under repurchase agreements | |||
net increase in securities borrowed or purchased under resale agreements | |||
net increase in securitization and structured entities’ liabilities | |||
net purchases of treasury shares | |||
premises and equipment – net purchases | |||
purchased and developed software – net purchases | |||
acquisitions | |||
net proceeds from divestitures |