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SUPPLEMENTAL INFORMATION
Table 7: Revenue and Revenue Growth ($ millions, except as noted)
5-year 10-year
For the year ended October 31 2013 2012 2011 2010 2009 CAGR CAGR
Net Interest Income 8,545 8,808 7,474 6,235 5,570 11.0 6.0
Year-over-year growth (%) (3.0) 17.8 19.9 11.9 9.8 na na
Adjusted Net Interest Income 7,888 8,029 7,248 6,235 5,570 9.2 5.1
Year-over-year growth (%) (1.8) 10.8 16.2 11.9 9.8 na na
Net Interest Margin (1)
Average earning assets 484,141 460,205 404,195 332,468 341,848 8.2 8.5
Net interest margin (%) 1.77 1.91 1.85 1.88 1.63 na na
Adjusted net interest margin (%) 1.63 1.74 1.79 1.88 1.63 na na
Canadian dollar net interest margin (%) 1.78 1.85 1.99 2.12 1.78 na na
U.S. dollar and other currencies net interest margin (%) 1.74 2.01 1.61 1.47 1.43 na na
Non-Interest Revenue
Securities commissions and fees 1,182 1,146 1,215 1,077 973 1.3 2.8
Deposit and payment service charges 916 929 834 802 820 3.9 1.9
Trading revenues 849 1,025 549 504 723 9.2 11.9
Lending fees 715 641 593 572 556 10.7 9.3
Card fees 724 708 689 233 121 20.0 9.6
Investment management and custodial fees 726 725 496 355 344 16.4 9.1
Mutual fund revenues 799 647 633 550 467 6.3 9.6
Securitization revenues – – – 678 929 (87.4) (61.7)
Underwriting and advisory fees 488 442 512 445 397 6.7 6.2
Securities gains (losses), other than trading 285 152 189 150 (354) nm nm
Foreign exchange, other than trading 172 153 130 93 53 16.4 0.7
Insurance income 445 335 283 321 295 13.4 13.6
Other revenues 417 419 346 224 170 14.7 2.3
Total non-interest revenue 7,718 7,322 6,469 6,004 5,494 8.5 6.2
Year-over-year growth (%) 5.4 13.2 7.7 9.3 7.0 na na
Non-interest revenue as a % of revenue 47.5 45.4 46.4 49.1 49.7 na na
Adjusted non-interest revenue 7,684 7,038 6,494 6,004 6,015 6.8 6.2
Year-over-year adjusted non-interest revenue growth (%) 9.2 8.4 8.1 (0.2) 8.9 na na
Adjusted non-interest revenue as a % of adjusted revenue 49.3 46.7 47.3 49.1 51.9 na na
Total Revenue 16,263 16,130 13,943 12,239 11,064 9.8 6.1
Year-over-year total revenue growth (%) 0.8 15.7 13.9 10.6 8.4 na na
Total Adjusted Revenue 15,572 15,067 13,742 12,239 11,585 8.0 5.6
Year-over-year total adjusted revenue growth (%) 3.4 9.7 12.3 5.7 9.4 na na
Supplemental Information
2010 and prior based on CGAAP. Five-year and ten-year CAGR based on CGAAP in 2008 and 2003, respectively, and on IFRS in 2013. 2011 growth rates based on CGAAP in 2010 and IFRS in 2011.
(1) Net interest margin is calculated based on average earning assets.
na – not applicable
nm – not meaningful
108 BMO Financial Group 196th Annual Report 2013