Strong Start to Fiscal Year
First quarter adjusted net income of $2.3 billion and earnings per share of $3.04. Pre-provision pretax earnings increased 32% from last year, with revenue growth up 18%.
Positive Operating Leverage and Efficiency
Operating leverage of 8.9% and an improved efficiency ratio to 56.3%. CET1 ratio remained strong at 13.6%.
Canadian P&C Record Revenue
Canadian P&C reported record revenues of $3 billion, driven by customer and balance sheet growth.
Wealth Management Performance
BMO Wealth Management PPPT was up 48% with strong revenue growth in wealth and asset management.
Capital Markets Growth
BMO Capital Markets grew PPPT by 67%, driven by strong Global Markets trading performance.
Digital and Technological Advancements
Joined the IBM Quantum Network to develop and deploy quantum-powered solutions.