BMO Financial Group Reports Net Income of $1.1 Billion for the First Quarter of 2014
First Quarter 2014 Compared with First Quarter 2013:
- Net income of $1,061 million, up 2%; adjusted net income(1) of $1,083 million, up 5%
- EPS(2) of $1.58, up 5%; adjusted EPS(1,2) of $1.61, up 7%
- ROE of 14.2%, compared with 14.9%; adjusted ROE(1) of 14.5%, compared with 14.8%
“BMO's first quarter results reflect continued revenue growth and strong operating group performance, especially in Canadian Personal and Commercial Banking. The bank is showing sustained momentum and a growing balance sheet,” said Bill Downe, Chief Executive Officer, BMO Financial Group.
"We gained market share in domestic personal lending complemented by double-digit growth in both commercial loans and deposits. Our U.S. commercial banking team also continued to deliver excellent volume growth with core commercial and industrial loans up 14% from a year ago. Margins were stable on both sides of the border, and Wealth Management and Capital Markets posted robust revenue growth.
"We recently announced an agreement to acquire F&C Asset Management, a diversified, U.K.-based investment manager. The acquisition will expand our BMO Global Asset Management business which had grown to over US$130 billion in assets under management and 175 investment professionals at the end of 2013.
“We're seeing the benefits of our diversified North American presence. We have clear opportunities for growth across our U.S. businesses in an environment of improved household finances and growing consumer confidence. In addition, progress in debt ceiling and budget negotiations in the United States will benefit business investment and our large North American commercial banking platform,” concluded Mr. Downe.
Concurrent with the release of results, BMO announced a second quarter 2014 dividend of $0.76 per common share, unchanged from the preceding quarter and up $0.02 per share from a year ago, equivalent to an annual dividend of $3.04 per common share.
Our complete First Quarter 2014 Report to Shareholders, including our unaudited interim consolidated financial statements for the period ended January 31, 2014, is available online at www.bmo.com/investorrelations and at www.sedar.com.
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This news is a press release provided by BMO Financial Group. Korea Newswire follows these editorial guidelines.
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2016년 2월 25일 08:29