Bank of Montreal (BMO) wins major legal victory in the Petters Ponzi scheme case. The company's U.S. subsidiary, BMO Bank National Association, was granted a verdict by the district court after the U.S. Court of Appeals for the Eighth Circuit overturned a previous jury verdict that had ordered one of its subsidiaries, Harris Bank, to pay $564 million. Background of BMO's Lawsuit The lawsuit concerns a Ponzi scam run by Thomas J. Petters and a few associated people and businesses (collectively, Petters), who ...

TORONTO and CHICAGO, Sept. 12, 2024 /PRNewswire/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) announced today that the United States Court of Appeals for the Eighth Circuit reversed a prior jury verdict and instructed the district court to enter judgement in favour of BMO's U.S. subsidiary, BMO Bank National Association. The lawsuit related to a Ponzi scheme carried out by Thomas J. Petters and certain affiliated individuals and entities (collectively, Petters) that operated a deposit account at a predecess ...

Shares of Bank of Montreal (BMO) declined 6.2% on the NYSE in response to weak third-quarter fiscal 2024 (ended July 31) results. Adjusted earnings per share of C$2.64 declined 10.2% year over year.A significant jump in provision for credit losses and lower net interest income (NII) primarily hurt the results. However, an increase in non-interest income, higher loans and deposit balance and lower expenses acted as a tailwind.After considering non-recurring items, net income was C$1.87 billion ($1.37 billion ...

文章核心观点 - 银行第三季度营收略有增长,但利润却低于分析师预期 [3][4] - 银行大幅增加了信贷损失准备金,导致利润下滑 [5] - 银行CEO表示,尽管信贷成本增加,但多元化业务和美国业务的持续增长支撑了整体业绩 [6] 根据相关目录分别进行总结 财务表现 - 第三季度营收为82.2亿加元(61亿美元),略高于上年同期 [3] - 第三季度调整后净利润为19.8亿加元(14.7亿美元),低于上年同期21.5亿加元(15.9亿美元) [3] - 每股调整后收益为2.64加元(1.96美元),低于分析师预期2.77加元(2.05美元) [4] 信贷损失准备金 - 第三季度信贷损失准备金大幅增加至9.06亿加元(6.71亿美元),上年同期为4.92亿加元(3.65亿美元) [5] 业务发展 - 银行CEO表示,尽管信贷成本增加,但多元化业务和美国业务的持续增长支撑了整体业绩 [6] - 银行继续扩大其在美国的银行业务客户群 [6]

Interim Consolidated Financial Statements Consolidated Statement of Income | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------|-------|-------|--------------------|-------|----------------------------------|----------------|-------|--------------------|-------|--------------------------------------|-------|----------------| | (Unaudited) (Canadian ...

财务数据和关键指标变化 - 第三季度调整后每股收益为2.64美元,较去年同期下降10.2% [33] - 第三季度调整后净利润为20亿美元,较去年同期下降8% [33] - 第三季度创下了35亿美元的创纪录的调整前拨备前税前利润,同比增长8% [9] - 第三季度实现了5.2%的正经营杠杆,年初至今为1.3% [10] 各条业务线数据和关键指标变化 - 加拿大个人和商业银行业务净收入同比增长7%,调整前拨备前税前利润增长12% [17] - 美国个人和商业银行业务净收入小幅下降,调整前拨备前税前利润增长6% [46] - 财富管理业务调整后净收入同比增长44% [48] - 资本市场业务调整后净收入同比增长31% [50] 各个市场数据和关键指标变化 - 加拿大个人和商业银行业务贷款和存款分别增长6%和11% [44] - 美国个人和商业银行业务贷款和存款分别增长4%和4% [47] 公司战略和发展方向及行业竞争 - 公司在美国市场的战略是持续发展,已经从一家区域性银行发展成为一家全国性银行,在零售和商业银行、财富管理和资本市场等领域具有竞争力 [24][25][26] - 公司正在加强在美国的人才和能力建设,如在葡萄酒和饮料并购、媒体和娱乐融资等领域设立专门团队 [27] - 公司正在推进美国业务的协同,如商业银行和资本市场之间的外汇套期保值和财资支付业务的交叉销售 [27] 管理层对经营环境和未来前景的评论 - 加息周期的延续以及消费者偏好的变化对一些客户产生了较大影响,导致了较高的不良贷款 [13][56] - 预计随着加息的逐步降息,信贷表现将在2025年恢复到长期平均水平 [14][102][113] - 总体经济增长强于此前预期,但公司仍在密切关注地缘政治事件和失业率的变化 [15] 其他重要信息 - 公司资本充足率为13%,维持在较高水平 [42] - 公司将继续执行既定战略,投资于业务增长,并利用资产负债表和资本实力创造持久的股东价值 [54] 问答环节重要的提问和回答 问题1 **Doug Young 提问** 对于不良贷款拨备的预期,公司为何有信心在2025年恢复到长期平均水平? [68] **Piyush Agrawal 回答** 公司对零售业务的不良贷款预期在合理范围内,但批发业务存在一些意外损失,导致了较高的不良贷款。公司已经对此进行了深入分析,相信未来几个季度会有所改善,到2025年可以恢复到长期平均水平 [69][71][102][113] 问题2 **Meny Grauman 提问** 公司目前的资本充足率较高,为何没有进行股票回购? [74] **Darryl White 回答** 公司目前保持较高的资本水平,主要是考虑到当前的不确定性环境,以及未来可能出现的客户机会,因此暂时没有进行股票回购计划。但公司会根据未来的情况进行评估和决策 [75][76][77] 问题3 **Ebrahim Poonawala 提问** 公司近期出现的大额不良贷款是否意味着公司的风险管理存在问题? [78] **Piyush Agrawal 和 Darryl White 回答** 公司的不良贷款主要集中在少数几个账户,与疫情期间的特殊情况有关。公司已经对此进行了深入分析和调整,未来几个季度会有所改善,预计到2025年可以恢复到长期平均水平。公司的整体风险文化和管理能力没有问题 [80][86][113]

Key TakeawaysThe Bank of Montreal's third-quarter earnings fell short of analysts' estimates as profits declined across several segments, including personal and commercial banking in the U.S. and Canada.Overall, profits increased year-over-year despite lower revenue, as CEO Darryl White said the bank practiced "good cost discipline."The bank's shares moved lower in early trading Tuesday after the earnings report was released. Canada's Bank of Montreal (BMO) missed estimates for its third-quarter results Tue ...

BMO's Third Quarter 2024 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended July 31, 2024 are available online at www.bmo.com/investorrelations and at www.sedarplus.ca.Financial Results HighlightsThird Quarter 2024 compared with Third Quarter 2023:Net income of $1,865 million, compared with $1,565 million; adjusted net income1, 2 of $1,981 million, compared with $2,148 millionReported earnings per share (EPS)3 of $2.48, compared with $2.12; adjuste ...

Iryna Tolmachova/iStock Editorial via Getty Images Summary As Bank of Montreal (NYSE:BMO) gears up to release its fiscal Q3 earnings on August 27th, 2024, there's a lot of anticipation-and a bit of anxiety-among investors. BMO is expected to report $6bn in revenue for the quarter, and a lot of attention will also be on the bottom line. With Canada's economy teetering on the edge of a recession, everyone's eager to see how BMO is handling the pressures of rising interest rates and potential loan defaults. Th ...

NEW YORK, July 8, 2024 Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it intends to redeem all of the outstanding securities in each of the series set forth in the following table (collectively, the "Affected Securities"): * The table above provides, for each of the Affected Securities, which are identified by their names, a hyperlink to the relevant pricing supplement.  Hyperlinks to the applicable base prospectus and prospectus supplement are contained in such pricing supplements. Capitalized t ...