Bank of Montreal 1997 Annual Report Download - page 59

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Bank of Montreal 180th Annual Report 1997 53
Table 4 Total Revenue Detail
($ millions except as noted)
For the year ended October 31
1997 1996* 1995* 1994* 1993* 1992* 1991* 1990* 1989* 1988*
Total revenue (TEB)
(a)
7,167 6,227 5,666 5,196 4,861 4,442 3,995 3,653 3,586 3,653
Year-over-year growth
(%)
15.1 9.9 9.0 6.9 9.4 11.2 9.4 1.9 (1.8) 17.5
Net Interest Income
Net interest income as reported 4,077 3,603 3,480 3,258 3,139 2,971 2,666 2,504 2,495 2,521
Taxable equivalent adjustment (TEB)
(a)
109 108 84 67 68 67 68 71 73 86
Net interest income (TEB)
(a)
4,186 3,711 3,564 3,325 3,207 3,038 2,734 2,575 2,568 2,607
Year-over-year growth
(%)
12.8 4.1 7.2 3.7 5.6 11.1 6.2 0.2 (1.5) 15.6
Net interest income (TEB)
(a)
4,186 3,711 3,564 3,325 3,207
Less: Non-operating items
Lesser developed countries (LDC) interest income
121 73 79 141 156
Trading interest income 812 23 23 76
Interest income on impaired loans (excluding LDC)
129 43 22 35 40
Operating net interest income (TEB)
(a)
3,928 3,583 3,440 3,126 2,935
Year-over-year growth
(%)
9.7 4.2 10.0 6.6 3.8
Spread
Total average assets
(b)
196,721 158,316 144,115 122,234 113,387 104,591 94,118 81,971 78,878 79,312
Average net interest spread
(%)
2.13 2.34 2.47 2.72 2.83 2.90 2.91 3.14 3.26 3.29
Average operating net interest spread
(%)
2.00 2.26 2.39 2.56 2.59
Average Canadian dollar spread
(%)
2.70 2.94 3.39 3.48 3.44 3.65 3.43 3.29 3.54 3.96
Average U.S. dollar and other currencies spread
(%)
1.48 1.58 1.22 1.59 1.94 1.84 2.11 2.90 2.86 2.50
Other Income
Deposit and payment service charges 508 473 451 437 430
Lending fees 240 194 186 180 145
Capital market fees 919 760 495 313 238
Card services 283 234 230 211 208
Investment management and custodial fees 299 221 240 197 194
Mutual fund revenues 155 87 53 56 30
Trading revenue 276 277 225 226 202
Other fees and commissions
Revenue from insurance-related activities 62 44 36 51 18
Gain/(loss) on disposal of premises and equipment
(5) (22) (26) (12) 4
Foreign exchange revenue other than trading 126 120 99 89 48
Investment securities gains/(losses) 52 71 46 37 40
Other 66 57 67 86 97
Total other fees and commissions 301 270 222 251 207
Total other income 2,981 2,516 2,102 1,871 1,654 1,404 1,261 1,078 1,018 1,046
Year-over-year growth
(%)
18.5 19.7 12.3 13.1 17.8 11.4 16.9 5.8 (2.6) 22.5
Other income as a % of total revenue 41.6 40.4 37.1 36.0 34.0 31.6 31.5 29.5 28.4 28.6
Total other income 2,981 2,516 2,102 1,871 1,654
Less: Non-operating items
Total trading revenue 276 277 225 226 202
Investment securities gains/(losses) 52 71 46 37 40
Operating other income 2,653 2,168 1,831 1,608 1,412
Year-over-year growth
(%)
22.5 18.4 13.8 13.9 13.7
Other Information
(units – as at October 31)
Number of employees
(c)
34,286 33,468 33,341 34,769 32,067 32,126 32,130 33,580 33,666 34,115
Number of bank branches 1,246 1,296 1,245 1,248 1,214 1,231 1,239 1,242 1,230 1,226
Number of automated banking machines (Canada)
2,035 2,017 1,763 1,708 1,538 1,293 1,221 1,163 937 753
Rates
Average Canadian prime rate
(%)
4.80 6.67 8.58 6.42 6.44 7.49 10.74 14.11 13.01 10.35
Average U.S. prime rate
(%)
8.51 8.49 8.89 6.69 6.04 6.59 9.02 10.25 10.99 9.06
Canadian/U.S. dollar exchange rates
($) (d)
High 1.33 1.34 1.33 1.29 1.24 1.12 1.12 1.13 1.17 1.20
Low 1.41 1.38 1.42 1.40 1.34 1.26 1.17 1.21 1.24 1.33
Average 1.37 1.37 1.38 1.36 1.29 1.19 1.15 1.17 1.19 1.25
End of period 1.41 1.34 1.34 1.35 1.32 1.24 1.12 1.17 1.17 1.22
*Reclassified to conform with the current year’s presentation.
(a) The taxable equivalent (TEB) adjustment increases interest income on tax-efficient
assets to the amount that would result if the income were fully taxable (and increases
the tax provision by the same amount). This adjustment results in a better reflection
of the pre-tax economic yield of these assets.
(b) Daily average for 1990 to 1997.
(c) This number constitutes full-time equivalent number of employees, comprising
full-time, part-time and over-time employees.
(d) Rates are expressed in Canadian dollars. Rates are the noon buying rates in
New York for
cable transfer in U.S. dollars as certified for customs purposes
by the Federal Reserve
Bank of New York, i.e., “the Noon Buying Rate”.