Bank of Montreal 1999 Annual Report Download - page 71

Bank of Montreal Group of Companies 1999 Annual Report 65
Table 9 Impaired Loans and Acceptances by Accounting Classification ($ millions)
As at or for the year ended October 31 1999 1998 1997 1996 1995
Gross impaired loans and acceptances, beginning of year 824 787 1,397 1,730 2,447
Additions to impaired loans and acceptances 1,084 621 660 959 806
Reductions in impaired loans and acceptances (a) (623) (389) (936) (948) (1,073)
Net new additions (reductions) 461 232 (276) 11 (267)
Write-offs (193) (195) (334) (344) (450)
Gross impaired loans and acceptances, end of year 1,092 824 787 1,397 1,730
Allowance for credit losses (ACL) (b), beginning of year 1,166 1,145 1,033 895 1,071
Increases
– specific allowance 290 106 169 437 264
Increases
– general allowance 85 110 200 0 125
Transfer of allowance 00 100 150 0
Write-offs (c) (193) (195) (357) (449) (565)
Allowance for credit losses (b), end of year 1,348 1,166 1,145 1,033 895
Net impaired loans and acceptances (NIL), beginning of year (342) (358) 364 835 1,376
Change in gross impaired loans and acceptances 268 37 (610) (333) (717)
Change in allowance for credit losses (182) (21) (112) (138) 176
Net impaired loans and acceptances, end of year (256) (342) (358) 364 835
Table 10 Balance Sheet Summary ($ millions)
As at October 31 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
Assets
Cash resources 24,036 19,730 32,245 24,187 20,317 14,659 12,081 11,288 13,607 12,502
Securities 43,273 43,465 41,789 36,609 33,019 26,535 23,328 22,581 17,862 12,238
Loans (net) 138,001 129,691 114,918 98,413 88,442 88,634 74,028 68,251 60,172 55,106
Acceptances 6,753 6,944 5,594 4,397 4,469 3,430 3,555 2,878 3,712 3,508
Other assets 18,552 22,760 13,292 6,226 5,587 4,917 3,877 4,037 3,372 4,016
Total assets 230,615 222,590 207,838 169,832 151,834 138,175 116,869 109,035 98,725 87,370
Liabilities and Shareholders’ Equity
Deposits 156,874 143,983 144,212 119,262 109,605 98,241 87,859 86,601 77,769 70,170
Other liabilities 58,048 63,208 50,892 39,670 32,602 31,178 20,961 15,604 14,836 11,801
Subordinated debt 4,712 4,791 3,831 3,314 2,595 2,218 2,363 1,666 1,570 1,473
Share capital
Preferred 1,668 1,958 1,274 857 858 860 852 832 718 475
Common 3,190 3,095 3,019 2,989 3,002 3,002 2,632 2,539 2,416 2,276
Retained earnings 6,123 5,555 4,610 3,740 3,172 2,676 2,202 1,793 1,416 1,175
Total liabilities and shareholders’ equity 230,615 222,590 207,838 169,832 151,834 138,175 116,869 109,035 98,725 87,370
Average Balances
Loans (d) 135,596 130,686 113,136 94,598 87,028 77,292 73,918 66,469 58,227 53,793
Assets (d) 226,714 227,450 196,721 158,316 144,115 122,234 113,387 104,591 94,118 81,971
Table 11 Unrealized Gains (Losses) on Securities and Reserves (e) ($ millions)
As at October 31 1999 1998 1997 1996 1995
Investment securities
Government debt and other securities (330) 315 293 148 156
Associated corporations (226) (190) 118 132 na
Designated lesser-developed countries (LDC) 18 65 102 195 299
(538) 190 513 475 455
General allowance for credit losses 970 885 775 475 325
(a) Loans and acceptances returning to performing status, sales and repayments.
(b) Excludes ACL for off-balance sheet exposure. Also excludes LDC reservations in excess of
impaired loans (
1999 – $79 million,
1998 – $98 million, 1997
– $93 million,
1996
– $108 million, 1995
– $360 million).
(c) Write-offs on designated LDC include losses on sales of performing assets that were
charged directly against the allowance (
1999 – $0, 1998 – $0, 1997 – $3 million,
1996
– $109 million, 1995
– $115 million).
(d)Daily averages for 1990 to 1999.
(e) Unrealized gains and losses may be offset by structural positions and hedge contracts.
na
– Not applicable