Annual Report 2016

Financial Snapshot

  Reported     Adjusted1    
As at or for the year ended October 31
(Canadian $ in millions, except as noted)
2016 2015 2016 2015

1 Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (PDF, 34 KB) section of the MD&A. Management assesses performance on a reported basis and on an adjusted basis and considers both to be useful in assessing underlying ongoing business performance. Presenting results on both bases provides readers with a better understanding of how management assesses results.

2 Net of insurance claims, commissions and changes in policy benefit liabilities (CCPB).

3 Certain comparative figures have been reclassified to conform with the current year’s presentation. See pages 45 and 46 of the 2016 Operating Groups Performance Review (PDF, 188 KB).

4 Corporate Services, including Technology & Operations.

na – not applicable

Revenue, net of CCPB2 19,544 18,135 19,628 18,137
Provision for credit losses 815 612 815 612
Non-interest expense 12,997 12,182 12,544 11,819
Net income 4,631 4,405 5,020 4,681
   
Earnings per share – diluted ($) 6.92 6.57 7.52 7.00
Return on equity 12.1% 12.5% 13.1% 13.3%
Operating leverage, net of CCPB2 1.1% (3.0)% 2.1% (1.3)%
Common Equity Tier 1 Ratio 10.1% 10.7% na na
   
Net Income by Segment3  
Canadian P&C 2,207 2,105 2,209 2,109
U.S. P&C 1,081 829 1,131 882
Wealth Management 762 850 863 955
BMO Capital Markets 1,268 1,029 1,269 1,031
Corporate Services4 (687) (408) (452) (296)
Net income 4,631 4,405 5,020 4,681
U.S. P&C (US$ in millions) 817 661 854 703

2016 Performance

1 Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (34 KB PDF) section of the MD&A.

 

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