Bank of Montreal 2004 Annual Report Download - page 75

Table 3 Returns on Equity and Assets ($ millions, except as noted)
For the year ended October 31 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Net income 2,351 1,825 1,417 1,471 1,857 1,382 1,350 1,305 1,168 986
Preferred dividends 76 82 79 80 101 117 112 83 69 69
Net income available to common shareholders 2,275 1,743 1,338 1,391 1,756 1,265 1,238 1,222 1,099 917
Average common shareholders’ equity 11,720 10,646 9,973 10,100 9,745 8,976 8,128 7,165 6,457 5,937
Return on equity (%) 19.4 16.4 13.4 13.8 18.0 14.1 15.2 17.1 17.0 15.4
Cash return on equity (%) 20.1 17.1 14.2 14.8 18.8 14.8 16.1 18.0 17.9 16.4
Return on average assets (%) 0.87 0.69 0.57 0.60 0.79 0.61 0.59 0.66 0.74 0.68
Return on average assets available
to common shareholders (%) 0.84 0.66 0.54 0.57 0.75 0.56 0.54 0.62 0.69 0.64
Table 4 Summary Balance Sheet ($ millions)
As at October 31 2004 2003 2002 2001 2000
Assets
Cash resources 18,045 19,860 19,305 17,656 18,508
Securities 50,472 54,790 43,715 37,676 46,463
Net loans and acceptances 156,248 146,156 149,596 144,765 142,447
Other assets 40,429 35,688 40,248 39,312 25,978
Total assets 265,194 256,494 252,864 239,409 233,396
Liabilities and Shareholders’ Equity
Deposits 175,190 171,551 161,838 154,290 156,697
Other liabilities 74,420 69,605 75,338 69,763 59,847
Subordinated debt 2,395 2,856 3,794 4,674 4,911
Share capital
Preferred 1,046 1,446 1,517 1,050 1,681
Common 3,857 3,662 3,459 3,375 3,173
Contributed surplus 10 3 –––
Net unrealized foreign exchange gain (loss) (497) (195) 419 500 222
Retained earnings 8,773 7,566 6,499 5,757 6,865
Total liabilities and shareholders’ equity 265,194 256,494 252,864 239,409 233,396
Average Daily Balances
Net loans and acceptances 154,863 150,784 147,443 147,370 143,428
Assets 269,792 263,966 247,990 243,248 234,944
Table 5 Liquid Assets ($ millions, except as noted)
As at October 31 2004 2003 2002 2001 2000
Canadian Dollar Liquid Assets
Deposits with other banks 2,270 1,330 1,892 1,535 1,814
Other cash resources (5) 1,313 2,178 1,296 782
Securities 26,006 28,790 23,471 16,398 20,846
Total Canadian dollar liquid assets 28,271 31,433 27,541 19,229 23,442
U.S. Dollar and Other Currencies Liquid Assets
Deposits with other banks 14,256 16,774 14,445 13,431 15,125
Other cash resources 1,524 443 790 1,394 787
Securities 24,466 26,000 20,244 21,278 25,617
Total U.S. dollar and other currencies liquid assets 40,246 43,217 35,479 36,103 41,529
Total Liquid Assets (1) 68,517 74,650 63,020 55,332 64,971
Cash and securities-to-total assets (%) 25.8 29.1 24.9 23.1 27.8
Pledged assets included in total liquid assets (2) 18,812 18,698 18,859 16,106 17,553
(1) Includes liquid assets pledged as security for securities sold but not yet purchased, securities
sold under repurchase agreements and other secured liabilities.
(2) Includes reserves or minimum balances which some of our subsidiaries are required to maintain
with central banks in their respective countries of operation.
BMO Financial Group Annual Report 2004 71
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