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BMO Financial Group 186th Annual Report 200370
As at October 31 (Canadian $ in millions) 2003 2002
Assets
Cash Resources (Notes 2 & 25) $ 19,860 $ 19,305
Securities (Notes 3 & 25)
Investment (fair value $19,972 in 2003 and $21,592 in 2002) 19,660 21,271
Trading 35,119 22,427
Loan substitutes 11 17
54,790 43,715
Loans (Notes 4 & 7)
Residential mortgages 52,095 47,569
Consumer instalment and other personal 22,103 21,168
Credit cards 2,967 2,280
Businesses and governments 51,889 57,963
Securities purchased under resale agreements 13,276 15,664
142,330 144,644
Customers’ liability under acceptances 5,611 6,901
Allowance for credit losses (1,785) (1,949)
146,156 149,596
Other Assets
Derivative financial instruments (Note 9) 21,216 22,108
Premises and equipment (Note 10) 2,045 2,159
Goodwill (Note 12) 1,334 1,428
Intangible assets (Note 12) 589 773
Other (Note 13) 10,504 13,780
35,688 40,248
Total Assets $ 256,494 $ 252,864
Liabilities and Shareholders’ Equity
Deposits (Note 14)
Banks $ 24,755 $ 15,273
Businesses and governments 72,405 71,411
Individuals 74,391 75,154
171,551 161,838
Other Liabilities
Derivative financial instruments (Note 9) 20,715 22,095
Acceptances (Note 15) 5,611 6,901
Securities sold but not yet purchased (Note 15) 8,255 7,654
Securities sold under repurchase agreements (Note 15) 23,765 24,796
Other (Note 15) 11,259 13,892
69,605 75,338
Subordinated Debt (Note 16) 2,856 3,794
Shareholders’ Equity
Share capital (Note 17) 5,108 4,976
Contributed surplus (Note 19) 3
–
Retained earnings 7,371 6,918
12,482 11,894
Total Liabilities and Shareholders’ Equity $ 256,494 $ 252,864
The accompanying notes to consolidated financial statements are an integral part of this statement.
Certain comparative figures have been reclassified to conform with the current year’s presentation.
F. Anthony Comper Jeremy H. Reitman
Chairman and Chief Executive Officer Chairman, Audit Committee
Consolidated Balance Sheet