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Supplemental Information
60 Bank of Montreal Group of Companies 1999 Annual Report
Table 4 Total Revenue Detail ($ millions except as noted)
For the year ended October 31 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
Total revenue (TEB) (a) 7,928 7,270 7,167 6,227 5,666 5,196 4,861 4,442 3,995 3,653
Year-over-year growth (%) 9.0 1.4 15.1 9.9 9.0 6.9 9.4 11.2 9.4 1.9
Net Interest Income
Net interest income as reported 4,279 4,024 4,077 3,603 3,480 3,258 3,139 2,971 2,666 2,504
Taxable equivalent adjustment (TEB) (a) 138 128 109 108 84 67 68 67 68 71
Net interest income (TEB) (a) 4,417 4,152 4,186 3,711 3,564 3,325 3,207 3,038 2,734 2,575
Year-over-year growth (%) 6.4 (0.8) 12.8 4.1 7.2 3.7 5.6 11.1 6.2 0.2
Net interest income (TEB) (a) 4,417 4,152 4,186 3,711 3,564 3,325 3,207
Less: Non-operating items
Lesser-developed countries (LDC)
interest income 47 17 121 73 79 141 156
Trading interest income 117 93 36 9 23 23 76
Interest income on impaired loans
(excluding LDC) 54 45 129 43 22 35 40
Operating net interest income (TEB) (a) 4,199 3,997 3,900 3,586 3,440 3,126 2,935
Year-over-year growth (%) 5.0 2.5 8.8 4.2 10.0 6.6 3.8
Margin
Total average assets (b) 226,714 227,450 196,721 158,316 144,115 122,234 113,387 104,591 94,118 81,971
Average net interest margin (%) 1.95 1.83 2.13 2.34 2.47 2.72 2.83 2.90 2.91 3.14
Average operating net interest margin (%) 1.85 1.76 1.98 2.26 2.39 2.56 2.59
Average Canadian dollar margin (%) 2.82 2.52 2.70 2.94 3.39 3.48 3.44 3.65 3.43 3.29
Average U.S. dollar and other
currencies margin (%) 1.19 1.17 1.48 1.58 1.22 1.59 1.94 1.84 2.11 2.90
Other Income
Deposit and payment service charges 616 558 508 473 451 437 430
Lending fees 329 290 240 194 186 180 145
Capital market fees 841 869 919 760 495 313 238
Card services 205 196 251 234 230 211 208
Investment management and custodial fees 419 407 299 221 240 197 194
Mutual fund revenues 207 199 155 87 53 56 30
Trading revenues 295 40 276 277 225 226 202
Securitization revenues 296 158320000
Other fees and commissions
Revenue from insurance-related activities 73 62 62 44 36 51 18
Gains (losses) on disposal of premises
and equipment (1) 7 (5) (22) (26) (12) 4
Foreign exchange revenues other than trading
133 103 126 120 99 89 48
Investment securities gains (losses) (85) 97 52 71 46 37 40
Other 183 132 66 57 67 86 97
Total other fees and commissions 303 401 301 270 222 251 207
Total other income 3,511 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,261 1,078
Year-over-year growth (%) 12.6 4.6 18.5 19.7 12.3 13.1 17.8 11.4 16.9 5.8
Other income as a % of total revenue 44.3 42.9 41.6 40.4 37.1 36.0 34.0 31.6 31.5 29.5
Total other income 3,511 3,118 2,981 2,516 2,102 1,871 1,654
Less: Non-operating items
Total trading revenues 295 40 276 277 225 226 202
Investment securities gains (losses) (85) 97 52 71 46 37 40
Non-recurring items (c) (29) 100000
Operating other income 3,330 2,980 2,653 2,168 1,831 1,608 1,412
Year-over-year growth (%) 11.8 12.3 22.5 18.4 13.8 13.9 13.7
Other Information (units
–
as at October 31)
Number of employees (d) 32,844 33,400 34,286 33,468 33,341 34,769 32,067 32,126 32,130 33,580
Number of bank branches 1,198 1,216 1,246 1,296 1,245 1,248 1,214 1,231 1,239 1,242
Number of automated
banking machines (Canada) 2,039 2,069 2,035 2,017 1,763 1,708 1,538 1,293 1,221 1,163
Rates
Average Canadian prime rate (%) 6.49 6.44 4.80 6.67 8.58 6.42 6.44 7.49 10.74 14.11
Average U.S. prime rate (%) 8.00 8.59 8.51 8.49 8.89 6.69 6.04 6.59 9.02 10.25
Canadian/U.S. dollar exchange rates ($) (e)
High 1.45 1.40 1.33 1.34 1.33 1.29 1.24 1.12 1.12 1.13
Low 1.56 1.58 1.41 1.38 1.42 1.40 1.34 1.26 1.17 1.21
Average 1.50 1.46 1.37 1.37 1.38 1.36 1.29 1.19 1.15 1.17
End of period 1.47 1.54 1.41 1.34 1.34 1.35 1.32 1.24 1.12 1.17
(a) Refer to the glossary on page 104 for a definition of the taxable equivalent basis (TEB)
adjustment.
(b) Daily averages for 1990 to 1999.
(c) Includes a $55 million write-down in the Bank’s distressed investment portfolio and a
$26.5 million gain on the sale of Global Custody, recorded in 1999. In certain circumstances,
certain proceeds of sale may be recorded in future periods.
(d) This number constitutes full-time equivalent number of employees, comprising full-time,
part-time and over-time employees.
(e) 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.”