Financial Snapshot

  Reported     Adjusted1    
As at or for the year ended October 31
(Canadian $ in millions, except as noted)
2018 2017 2018 2017

1 Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (PDF, 40 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 See page 44 of the 2018 Operating Groups Performance Review (PDF, 681 KB).

4 Corporate Services, including Technology & Operations.

Certain comparative figures have been reclassified to conform with the current year’s presentation.

na – not applicable

Revenue, net of CCPB2 21,685 20,722 21,685 20,722
Provision for credit losses 662 746 662 822
Non-interest expense 13,613 13,330 13,480 13,035
Net income 5,450 5,350 5,979 5,508
   
Earnings per share – diluted ($) 8.17 7.92 8.99 8.16
Return on equity (%) 13.2% 13.3% 14.6% 13.7%
Operating leverage, net of CCPB (%) 2.5% 3.8% 1.2% 2.0%
Common Equity Tier 1 Ratio (%) 11.3% 11.4% na na
   
Net Income by Segment3  
Canadian P&C 2,554 2,511 2,556 2,514
U.S. P&C 1,394 1,027 1,439 1,073
Wealth Management 1,072 967 1,113 1,032
BMO Capital Markets 1,156 1,275 1,169 1,277
Corporate Services4 (726) (430) (298) (388)
Net income 5,450 5,350 5,979 5,508
U.S. P&C (US$ in millions) 1,083 787 1,118 823

2018 Performance

* Adjusted results are non-GAAP and are discussed in the Non-GAAP Measures (40 KB PDF) section of the MD&A.