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Financial Snapshot
| For the year ended October 31 (Canadian $ in millions, except as noted) | 2010 | 2009 | 2008 |
|---|---|---|---|
| 1 This is a non-GAAP measure. Please see the Non-GAAP Measures (PDF, 45 KB) section of the MD&A. | |||
| Revenue | 12,210 | 11,064 | 10,205 |
| Total provision for credit losses | 1,049 | 1,603 | 1,330 |
| Non-interest expense | 7,590 | 7,381 | 6,894 |
| Net income | 2,810 | 1,787 | 1,978 |
| Earnings per share – diluted ($) | 4.75 | 3.08 | 3.76 |
| Return on equity (ROE) | 14.9% | 9.9% | 13.0% |
| Cash Operating leverage1 | 7.5% | 1.3% | 4.7% |
| Tier 1 Capital Ratio | 13.45% | 12.24% | 9.77% |
| Net Income by Segment | |||
| P&C Canada | 1,644 | 1,415 | 1,153 |
| P&C U.S. | 175 | 286 | 242 |
| Private Client Group | 470 | 359 | 426 |
| BMO Capital Markets | 820 | 873 | 568 |
| Corporate Services, including Technology and Operations (T&O) | (299) | (1,146) | (411) |
| Net Income | 2,810 | 1,787 | 1,978 |
2010 Performance
Total Shareholder Return (TSR) (%)
BMO’s one-year TSR was 26.4%, providing an annual shareholder return in the top tier of our Canadian peer group – for the second consecutive year.
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BMO Financial Group Net Income
Net income rose by 57%, or more than $1 billion, driven by reduced provisions for credit losses and stronger results in P&C Canada.
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2010 Revenue Growth
Revenue rose by more than $1.1 billion, or 10.4%, after having grown 8.4% and 9.2% in the past two years, demonstrating the benefits of our diversified business mix.
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Tier 1 Capital Ratio
The Tier 1 Capital Ratio increased from 12.24% in 2009, providing greater operational and strategic flexibility.
