- Bank of Montreal (NYSE:BMO) Q4 results were driven by strong performance in its Personal and Commercial banking businesses and accelerated growth in its U.S. segment.
- Q4 adjusted EPS of C$2.32 exceeds consensus by C$0.01; compares with C$2.36 in Q3 and C$1.94 a year earlier.
- Excluded from adjusted earnings is a C$425M charge for revaluation of U.S. net deferred tax asset.
- Boosts Q1 2019 dividend to C$1.00 per share, up 4% from C$0.96 in the previous quarter.
- Q4 net interest income of C$2.67B vs. C$2.61B in Q3 and C$2.54B a year ago; net interest margin on average earning assets 1.49% vs. 1.49% in Q3 and 1.57% a year ago.
- Q4 total provision for credit losses was C$175M vs. C$186M in Q3 and C$202M a year earlier.
- Q4 Canadian Personal and Commercial adjusted net income of C$676M rose 8% Y/Y.
- Q4 U.S. Personal and Commercial adjusted net income of C$383M, up 36% Y/Y.
- Q4 BMO Wealth Management adjusted net income of C$229M increased 21% from a year ago.
- Q4 BMO Capital Markets adjusted net income of C$309M, down 2% from a year ago.
- Q4 CET1 ratio of 11.3% at Oct. 31, 2018, edges down from 11.4% at Q3 end.
- Q4 adjusted ROE 14.5% vs. 15.0% in Q3 and 12.9% in Q4 2017.
- Previously: Bank of Montreal beats by $0.01, beats on revenue (Dec. 4)
- Now read: Are Canadian Bank Stocks Poised To Play Catch-Up In 2019?
Original article