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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Our Approach

In addition to financing opportunity, creating wealth and maximizing returns to our shareholders, we also play an important role in sustaining overall economic prosperity for our clients, our employees and our communities. The wealth we create is widely shared through employee compensation, the procurement of goods and services, dividends paid to shareholders, support for charitable initiatives and taxes.

Shareholder Value

The average annual total shareholder return (TSR) is a key measure of shareholder value, and confirms that our strategic priorities drive value creation for our shareholders. Our one-year TSR of 17.0% and our three-year average annual TSR of 9.9% were strong, and both outperformed the corresponding averages of our Canadian bank peer group and the overall market return in Canada. Our five-year average annual TSR of 12.5% also outperformed the overall market return in Canada, and was consistent with our Canadian bank peer group. Adjusted net revenue growth was strong at 8% and adjusted net income exceeded $5 billion for the first time, delivering earnings per share of $7.52 – an increase of 7% over the previous year.

Employment

We employ more than 45,000 full-time equivalent (FTE) employees enterprise-wide, the majority of which are in North America. Employee compensation, which includes salaries, performance-based compensation and benefits was $7,382 million. We provide pension and/or retirement savings plans to eligible employees globally. These plans are managed prudently and in accordance with all applicable laws and regulations. See Note 22 to the financial statements on page 118 of the 2016 Annual Report.

Investment in Training

We provide employees with opportunities to grow and develop through formal training programs and on-the-job experience. In 2016, our investment in training was $77,952,791▲, which is an average of $1,689 per FTE employee. Average training hours per employee was 26.9 per FTE employee▲ in 2016.

Taxes

Total government levies and taxes in 2016 were $1,864 million. These include payroll levies, property taxes, provincial capital taxes, business taxes, harmonized sales tax, goods and services tax and other sales and sundry taxes. For a year-over-year breakdown of government levies and taxes, see Table 4 on page 125 of the 2016 Annual Report.

Purchasing Goods and Services

In 2016, we purchased more than $4.7 billion worth of goods and services from approximately 12,700 suppliers in North America. Of that amount, approximately $3.2 billion was spent through our Canadian operations and approximately $1.5 billion was spent through our U.S. operations. Total premises and equipment costs were $2,393 million and included rental of real estate premises, furniture and fixtures, property taxes, computers and equipment. For a year-over-year breakdown, see Table 4 on page 125 of the 2016 Annual Report.

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▲ 2016 data externally assured (KPMG's Assurance Statement is on pages 60–62 of the 2016 Environmental, Social and Governance Report and Public Accountability Statement)

Adjusted measures are non-GAAP and discussed in the non-GAAP Measures section on page 33 of the 2016 Annual Report.