Bank of Montreal

Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada. The U.S. P&C segment offers retail banking and financial solutions in United States. The company was founded by Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson and Thomas A. Turner on June 23, 1817 and is headquartered in Toronto, Canada.

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Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C), United States Personal and Commercial Banking (U.S. P&C), BMO Wealth Management, BMO Capital Markets, and Corporate Services. The company was founded by Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson and Thomas A. Turner on June 23, 1817 and is headquartered in Toronto, Canada.

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Bank of Montreal (NYSE:BMO ) Q3 2023 Results Conference Call August 29, 2023 7:15 AM ET Company Participants Christine Viau - Investor Relations Darryl White - Chief Executive Officer Tayfun Tuzun - Chief Financial Officer Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head, BMO North American Personal and Business Banking Nadim Hirji - Head, BMO Commercial Banking Dan Barclay - Head, BMO Capital Markets Deland Kamanga - Head, BMO Wealth Management Darrel Hackett - BMO U.S. CEO Conference Call Participants Ebrahim Poonawala - Bank of America Meny Grauman - Scotiabank Gabriel Dechaine - National Bank Financial Doug Young - Desjardins Capital Markets Lemar Persaud - Cormark Securities Nigel D'Souza - Veritas Investment Research Joo Ho Kim - Credit Suisse Operator Good morning, and welcome to BMO Financial Group's Q3 2023 Earnings Release and Conference Call for August 29, 2023. Your host for today is Christine Viau.

Bank of Montreal (BMO) Q3 2023 Earnings Call Transcript

With an aim to provide enhanced and convenient payment solutions for commercial clients, Bank of Montreal (BMO) announces the launch of contactless virtual cards.

Bank of Montreal (BMO) Launches Contactless Virtual Cards

Bank of Montreal (CSE:BMO) has posted modest gains in net income and earnings in the latest quarer, driven by its Canadian personal and commercial banking divisions, although provisions for bad debts have risen sharply. The Canadian financial institution said net income in the financial third quarter to July 31, increased 5.8% to C$1.45 billion from C$1.37 billion the year prior, or C$1.97 per share, up slightly from C$1.95 before.

Bank of Montreal net income edges higher but provisions jump

Bank of Montreal on Tuesday reported a decline in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover potential losses from loan defaults.

Bank of Montreal's quarterly profit falls on higher bad loan provisions

BMO's Third Quarter 2023 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended July 31, 2023 is available online at www.bmo.com/investorrelations and at www.sedarplus.ca . Financial Results Highlights Third Quarter 2023 Compared with Third Quarter 2022: Net income of $1,454 million, compared with $1,365 million; adjusted net income1,3 of $2,037 million, compared with $2,132 million Reported earnings per share (EPS)2 of $1.97, compared with $1.95; adjusted EPS1,2,3 of $2.78, compared with $3.09 Provision for credit losses (PCL) of $492 million, compared with $136 million Return on equity (ROE) of 8.3%, compared with 8.8%; adjusted ROE1,3 of 11.7%, compared with 13.8% Common Equity Tier 1 (CET1) Ratio4 of 12.3%, compared with 15.8% Year-to-Date 2023 Compared with Year-to-Date 2022: Net income of $2,760 million, compared with $9,054 million; adjusted net income1,3 of $6,525 million, compared with $6,903 million Reported EPS2 of $3.60, compared with $13.45; adjusted EPS1,2,3 of $8.93, compared with $10.20 PCL of $1,732 million, compared with $87 million; adjusted PCL1,3 of $1,027 million, compared with $87 million ROE of 5.1%, compared with 21.1%; adjusted ROE1,3 of 12.6%, compared with 16.0% TORONTO , Aug. 29, 2023 /PRNewswire/ - For the third quarter ended July 31, 2023, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $1,454 million or $1.97 per share on a reported basis, and net income of $2,037 million or $2.78 per share on an adjusted basis.

BMO Financial Group Reports Third Quarter 2023 Results

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Bank of Montreal (BMO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Is a Surprise Coming for Bank of Montreal (BMO) This Earnings Season?

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TORONTO , Aug. 8, 2023 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it intends to redeem all of its U.S. .$850,000,000 4.338% Subordinated Notes (Non-Viability Contingent Capital) due October 5, 2028 (the "Notes").

BMO to Redeem U.S. $850,000,000 4.338% Subordinated Notes (Non-Viability Contingent Capital (NVCC))

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Bank of Montreal gets a hold rating today. Positives: 4.5% dividend yield higher than sector average, capital & liquidity position, share price close to 200-day SMA, balance sheet growth after the acquisition of Bank of the West (BOTW). Headwinds: lack of YoY net income growth trends, valuation high vs sector average.

Bank of Montreal: Overvalued But Nice 4.5% Dividend Yield And Growth From Recent Takeover

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Sustainability Linked Deposits (SLD) reward business account holders who achieve predetermined sustainability targets SLDs join a suite of options offered by BMO to help business clients make progress on their sustainability goals TORONTO , July 18, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) today announced it is providing its innovative new Sustainability-Linked Deposit (SLD) product to Zurn Elkay Water Solutions (NYSE: ZWS), a client and leading engineered water solutions company. A Sustainability-Linked Deposit links the interest paid on a deposit account to a client's achievement of defined sustainability targets.

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Bank of Montreal is the 8th largest bank in North America with $1.25 trillion in assets, serving 13 million customers globally, and has a significant US presence. BMO is diversified on four business lines: Canadian banking, US banking, Wealth Management, and Capital Markets. BMO's strategy emphasizes maintaining a well-capitalized balance sheet, commitment to positive operating leverage, and a digital-first operating model.

Bank of Montreal: Excellent Company For Dividend Growth Investing

Bell Canada is one of the first telecom companies to execute a Sustainability-Linked Derivative TORONTO , May 30, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) and Bell Canada ("Bell") have entered into a Sustainability-Linked Derivative (SLD). The SLD leverages Bell's ambitious sustainability performance targets (SPT), and includes a pricing adjustment that increases the derivative's cost if Bell is unable to meet or exceed its science-based target to reduce its operational GHG emissions (Scope 1 and 2) by 58% by 2030 from a 2020 base year in line with the Science Based Targets initiative (SBTi).

BMO and Bell Canada Execute Innovative Sustainability-Linked Derivative Tied to Ambitious GHG Emission Reduction Targets

The acquisition of Bank of the West supports Bank of Montreal's (BMO) fiscal Q2 results as revenues increase. Yet, higher expenses and provisions act as headwinds.

Bank of Montreal (BMO) Stock Down 4.6% as Q2 Earnings Fall Y/Y

Bank of Montreal (CSE:BMO) (BMO) and Bank of Nova Scotia (TSX:BNS) (Scotiabank (TSX:BNS)) kicked off second-quarter 2023 Canadian bank earnings season on Wednesday, with both big financial institutions disappointing the Street consensus on the bottom line. BMO stock sagged 4% to C$113 in midday trading after the company reported 2Q adjusted diluted earnings per share of $2.93, down from an adjusted profit of $3.23 per share during the same period last year, falling short of the $3.19 per share consensus compiled by financial markets data firm Refinitiv.

Bank of Montreal and Bank of Nova Scotia stock falls as 2Q earnings disappoint

Bank of Montreal (NYSE:BMO ) Q2 2023 Earnings Conference Call May 24, 2023 8:15 AM ET Company Participants Christine Viau - Investor Relations Darryl White - Chief Executive Officer Tayfun Tuzun - Chief Financial Officer Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head, BMO North American Personal and Business Banking Nadeem Hirji - Head, BMO Commercial Banking Dan Barclay - Head, BMO Capital Markets Deland Kamanga - Head, BMO Wealth Management Conference Call Participants John Aiken - Barclays Meny Grauman - Scotiabank Gabriel Dechaine - National Bank Financial Doug Young - Desjardins Capital Markets Scott Chan - Canaccord Genuity Paul Holden - CIBC Mario Mendonca - TD Securities Lemar Persaud - Cormark Operator Please be advised that this conference call is being recorded. Good morning and welcome to BMO Financial Group's Q2 2023 Earnings Release and Conference Call for May 24, 2023.

Bank of Montreal (BMO) Q2 2023 Earnings Call Transcript

Bank of Montreal's second-quarter profit jumped as higher interest rates shored up the lender's net interest income, the Canadian bank said on Wednesday.

Bank of Montreal quarterly profit rises on higher interest income

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% TORONTO , May 24, 2023 /PRNewswire/ - For the second quarter ended April 30, 2023, BMO Financial Group (TSX: BMO) (NYSE: BMO) recorded net income of $1,059 million or $1.30 per share on a reported basis, and net income of $2,216 million or $2.93 per share on an adjusted basis.

BMO Financial Group Reports Second Quarter 2023 Results

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Part of UN Principles for Responsible Banking, Nature Target Setting Working Group to align targets with Kunming-Montreal Global Biodiversity Framework which aims to reverse nature loss by 2030 BMO named as the only Canadian bank participating in pioneering global working group composed of 34 banks from 24 countries TORONTO , May 10, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) today announced it has been selected to join the newly formed UN Principles for Responsible Banking (PRB) Nature Target Setting Working Group to innovate nature target-setting for banks. The working group consists of 34 bank signatories to the UN PRB.

BMO Named to UN-Convened Group Providing Guidance to Global Banks on Nature Target Setting

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News for Bank of Montreal Stock (BMO)