BMO Financial Group (BMO) Reports Q4 EPS of C$2.32

BMO Financial Group (NYSE: BMO) reported Q4 EPS of C$2.32.

Fourth Quarter 2018 Compared with Fourth Quarter 2017 (Canadian $ in millions, except as noted):

• Net income of $1,695 million, up 38%, including a benefit from the remeasurement of an employee benefit liability2 in the current quarter; adjusted net income1 of $1,529 million, up 17%
• EPS3 of $2.57, up 42%; adjusted EPS1,3 of $2.32, up 19%
• ROE of 16.1%, up from 12.1%; adjusted ROE1 of 14.5%, up from 12.9%
• Provision for credit losses4 (PCL) of $175 million, compared with $202 million in the prior year
• Common Equity Tier 1 Ratio of 11.3%
• Dividend increased by $0.04 from the prior quarter to $1.00, up 8% from the prior year

"BMO's fourth quarter results demonstrated continued positive momentum and ended a successful year in which the bank delivered $6 billion in adjusted earnings and growth in adjusted earnings per share of 10%, led by strong performance in our Personal and Commercial banking businesses," said Darryl White, Chief Executive Officer, BMO Financial Group.

"This year, we continued to make good progress against our strategic objectives. We grew our U.S. segment at an accelerated pace, increased momentum in our Commercial banking business, adding relationships, loans and deposits, and delivered real value to our personal customers with new and enhanced digital capabilities. We've invested in and grown our businesses, and at the same time, improved efficiency, returned capital to our shareholders through increased dividends and share buybacks, and maintained a strong CET 1 ratio of 11.3%.

"Looking ahead to 2019, we will continue to build on this strong foundation and our differentiating strengths, including an integrated North American platform and deep relationships in our wealth, capital markets and P&C businesses, to deliver sustainable and competitive long-term performance," concluded Mr. White.

For earnings history and earnings-related data on BMO Financial Group (BMO) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• South State Corp. (SSB) Tops Q1 EPS by 4c
• Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend