Bank of Montreal 1999 Annual Report Download - page 22

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20 Bank of Montreal Group of Companies 1999 Annual Report
Introduction
The Management Analysis of Operations (MAO) provides
a discussion and analysis of our operations for the years
ended October 31, 1999 and 1998. The MAO is presented in
the following five sections:
Measures and Objectives;
Financial Performance and Condition;
Enterprise-Wide Risk Management;
Operating Review of Client Groups; and
Economic Outlook.
Measures and Objectives
This section provides an overview of how we measure our
financial performance and condition, along with a discus-
sion of our objectives for 1999 and 2000.
Included within our discussion of measures and objec-
tives is our Financial Performance and Condition at a
Glance, which reviews our performance for the year. This
section also provides a comparison of the year’s results
to both our Canadian peer group, which is the six largest
chartered banks in Canada, and our North American
peer group, which consists of the twenty largest banks in
North America.
Financial Performance and Condition
This section reviews the Bank’s financial performance and
condition for 1999 and 1998, and mirrors the structure of
the Financial Performance and Condition at a Glance.
Enterprise-Wide Risk Management
This section provides a review of our enterprise-wide risk
management function including our strategy, approach,
governance and performance in this area.
Operating Review of Client Groups
This section of the MAO provides an analysis of our client
group performance:
Personal and Commercial Client Group;
Private Client Group; and
Investment Banking Group.
A description of the group, client profile and environmen-
tal overview is provided, as well as a review of the group’s
strategies and accomplishments. A detailed analysis of the
1999 and 1998 financial results is also provided.
Economic Outlook
This section reviews North American economic develop-
ments in 1999 and our economic expectations for 2000.
of Operations
Management Analysis
Index
21 Measures and Objectives
22 Financial Performance and Condition at a Glance
Financial Performance and Condition
24 Shareholder Value
25 Net Economic Profit Growth
26 Earnings per Share Growth
28 Profitability
29 Revenue Growth
32 Expense-to-Revenue Ratio
33 Credit Risk
34 Liquidity Ratio
35 Capital Adequacy
37 Enterprise-Wide Risk Management
44 Operating Review of Client Groups
45 Personal and Commercial Client Group
52 Private Client Group
55 Investment Banking Group
58 Economic Outlook