Bank of Montreal 1998 Annual Report Download - page 63

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55
BANK OF MONTREAL GROUP OF COMPANIES
TABLE 4 TOTAL REVENUE DETAIL ($ millions except as noted)
For the year ended October 31 1998 19 97 * 199 6 * 19 95 19 9 4 19 9 3 19 92 19 91 199 0 19 8 9
Total revenue (TEB) (a) 7,270 7,167 6,227 5,666 5,196 4,861 4,442 3,995 3,653 3,586
Year-over-year growth (%) 1.4 15.1 9.9 9.0 6.9 9.4 11.2 9.4 1.9 (1.8)
Net Interest Income
Net interest income as reported 4,024 4,077 3,603 3,480 3,258 3,139 2,971 2,666 2,504 2,495
Taxable equivalent adjustment (TEB) (a) 128 109 108 84 67 68 67 68 71 73
Net interest income (TEB) (a) 4,152 4,186 3,711 3,564 3,325 3,207 3,038 2,734 2,575 2,568
Year-over-year growth (%) (0.8) 12.8 4.1 7.2 3.7 5.6 11.1 6.2 0.2 (1.5)
Net interest income (TEB) (a) 4,152 4,186 3,711 3,564 3,325 3,207
Less: Non-operating items
Lesser-developed countries (LDC)
interest income 17 121 73 79 141 156
Trading interest income 93 36 9232376
Interest income on impaired loans
(excluding LDC) 45 129 43 22 35 40
Operating net interest income (TEB) (a) 3,997 3,900 3,586 3,440 3,126 2,935
Year-over-year growth (%) 2.5 8.8 4.2 10.0 6.6 3.8
Spread
Total average assets (b) 227,450 196,721 158,316 144,115 122,234 113,387 104,591 94,118 81,971 78,878
Average net interest spread (%) 1.83 2.13 2.34 2.47 2.72 2.83 2.90 2.91 3.14 3.26
Average operating net interest spread (%) 1.76 1.98 2.26 2.39 2.56 2.59
Average Canadian dollar spread (%) 2.52 2.70 2.94 3.39 3.48 3.44 3.65 3.43 3.29 3.54
Average U.S. dollar and other
currencies spread (%) 1.17 1.48 1.58 1.22 1.59 1.94 1.84 2.11 2.90 2.86
Other Income
Deposit and payment service charges 558 508 473 451 437 430
Lending fees 290 240 194 186 180 145
Capital market fees 869 919 760 495 313 238
Card services 196 251 234 230 211 208
Investment management and custodial fees 407 299 221 240 197 194
Mutual fund revenues 199 155 87 53 56 30
Trading revenue 40 276 277 225 226 202
Securitization revenues 158 320000
Other fees and commissions
Revenue from insurance-related activities 62 62 44 36 51 18
Gain/(loss) on disposal of
premises and equipment 7(5) (22) (26) (12) 4
Foreign exchange revenue other than trading 103 126 120 99 89 48
Investment securities gains/(losses) 97 52 71 46 37 40
Other 132 66 57 67 86 97
Total other fees and commissions 401 301 270 222 251 207
Total other income 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,261 1,078 1,018
Year-over-year growth (%) 4.6 18.5 19.7 12.3 13.1 17.8 11.4 16.9 5.8 (2.6)
Other income as a % of total revenue 42.9 41.6 40.4 37.1 36.0 34.0 31.6 31.5 29.5 28.4
Total other income 3,118 2,981 2,516 2,102 1,871 1,654
Less: Non-operating items
Total trading revenue 40 276 277 225 226 202
Investment securities gains/(losses) 97 52 71 46 37 40
Non-recurring items 100000
Operating other income 2,980 2,653 2,168 1,831 1,608 1,412
Year-over-year growth (%) 12.3 22.5 18.4 13.8 13.9 13.7
Other Information (units – as at October 31)
Number of employees (c) 33,400 34,286 33,468 33,341 34,769 32,067 32,126 32,130 33,580 33,666
Number of bank branches 1,216 1,246 1,296 1,245 1,248 1,214 1,231 1,239 1,242 1,230
Number of automated
banking machines (Canada) 2,069 2,035 2,017 1,763 1,708 1,538 1,293 1,221 1,163 937
Rates
Average Canadian prime rate (%) 6.44 4.80 6.67 8.58 6.42 6.44 7.49 10.74 14.11 13.01
Average U.S. prime rate (%) 8.59 8.51 8.49 8.89 6.69 6.04 6.59 9.02 10.25 10.99
Canadian/U.S. dollar exchange rates ($) (d)
High 1.40 1.33 1.34 1.33 1.29 1.24 1.12 1.12 1.13 1.17
Low 1.58 1.41 1.38 1.42 1.40 1.34 1.26 1.17 1.21 1.24
Average 1.46 1.37 1.37 1.38 1.36 1.29 1.19 1.15 1.17 1.19
End of period 1.54 1.41 1.34 1.34 1.35 1.32 1.24 1.12 1.17 1.17
*Reclassified to conform with the current year’s presentation.
(a) Refer to the Glossary on page 92 for a definition of the taxable equivalent basis
(TEB) adjustment.
(b) Daily averages for 1990 to 1998.
(c) This number constitutes full-time equivalent number of employees, comprising
full-time, part-time and over-time employees.
(d)
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”.