Financial Snapshot

  Reported     Adjusted1    
As at or for the year ended October 31
(Canadian $ in millions, except as noted)
2017 2016 2017 2016

1 Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (PDF, 30 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 page 46 of the 2017 Operating Groups Performance Review (PDF, 839 KB).

4 Corporate Services, including Technology & Operations.

na – not applicable

Revenue, net of CCPB2 20,722 19,544 20,722 19,628
Provision for credit losses 774 815 850 815
Non-interest expense 13,302 12,997 13,007 12,544
Net income 5,350 4,631 5,508 5,020
   
Earnings per share – diluted ($) 7.92 6.92 8.16 7.52
Return on equity (%) 13.3% 12.1% 13.7% 13.1%
Operating leverage, net of CCPB (%) 3.7% 1.1% 1.9% 2.1%
Common Equity Tier 1 Ratio (%) 11.4% 10.1% na na
   
Net Income by Segment3  
Canadian P&C 2,512 2,202 2,515 2,204
U.S. P&C 1,066 1,085 1,112 1,135
Wealth Management 953 761 1,018 862
BMO Capital Markets 1,315 1,253 1,317 1,254
Corporate Services4 (496) (670) (454) (435)
Net income 5,350 4,631 5,508 5,020
U.S. P&C (US$ in millions) 817 819 853 856

2017 Performance

1 Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (30 KB PDF) section of the MD&A.