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Bank of Montreal 180th Annual Report 199764
Supplemental Information Continued
Table 19 Quarterly Financial Data
($ millions)
Oct. 31 July 31 April 30 Jan. 31 Oct. 31* July 31* April 30* Jan. 31*
As at or for the three months ended
1997 1997 1997 1997 1996 1996 1996 1996
Balance Sheet Data
Total assets 207,838 198,209 200,423 185,872 169,832 162,546 155,000 150,022
Cash resources 32,245 28,252 28,996 24,032 24,187 21,252 21,387 19,813
Securities 41,789 39,410 36,985 38,081 36,609 34,547 31,351 30,779
Loans (net) 114,918 112,068 115,345 105,026 98,413 96,284 92,667 89,595
Acceptances 5,594 5,117 4,717 4,141 4,397 4,366 4,073 4,116
Other assets 13,292 13,362 14,380 14,592 6,226 6,097 5,522 5,719
Deposits 144,212 136,485 136,942 125,992 119,262 118,108 113,697 110,156
Total capital funds 12,734 12,057 12,396 11,679 10,900 10,826 10,233 10,102
Common equity 7,629 7,432 7,202 6,948 6,729 6,610 6,484 6,338
Average assets
(a)
204,819 203,366 196,470 182,220 166,141 161,190 154,446 151,402
Net Income Statement
Interest, dividend and fee income
Loans 2,110 2,108 1,962 1,878 1,804 1,853 1,810 1,909
Securities 581 522 517 524 545 522 492 565
Deposits with banks 378 360 317 277 248 251 247 238
Total interest income 3,069 2,990 2,796 2,679 2,597 2,626 2,549 2,712
Interest expense
Deposits 1,377 1,376 1,261 1,194 1,181 1,305 1,280 1,368
Subordinated debt 72 74 75 72 68 64 57 57
Other liabilities 557 514 456 429 414 374 347 366
Total interest expense 2,006 1,964 1,792 1,695 1,663 1,743 1,684 1,791
Net interest income 1,063 1,026 1,004 984 934 883 865 921
Provision for credit losses (PCL) 69 68 69 69 44 43 69 69
Net interest income after PCL 994 958 935 915 890 840 796 852
Other income 771 811 702 697 645 631 644 596
Non-interest expense 1,269 1,147 1,117 1,080 1,077 977 962 933
Income before provision for income taxes 496 622 520 532 458 494 478 515
Provision for income taxes 192 244 200 204 162 189 191 215
Income before non-controlling interest in subsidiary 304 378 320 328 296 305 287 300
Non-controlling interest in subsidiary 76665564
Net income 297 372 314 322 291 300 281 296
Taxable equivalent adjustment
(b)
28 28 28 25 31 28 26 23
Total revenue (TEB) 1,862 1,865 1,734 1,706 1,610 1,542 1,535 1,540
*Reclassified to conform with the current year’s presentation.
(a) Daily averages.
(b) 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.