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Bank of Montreal Group of Companies Annual Report 2000 ■71
Table 4 Total Revenue Detail ($ millions except as noted)
For the year ended October 31 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991
Total revenue (TEB) (a) 8,664 7,928 7,270 7,167 6,227 5,666 5,196 4,861 4,442 3,995
Year-over-year growth (%) 9.3 9.0 1.4 15.1 9.9 9.0 6.9 9.4 11.2 9.4
Net Interest Income
Net interest income as reported 4,204 4,279 4,024 4,077 3,603 3,480 3,258 3,139 2,971 2,666
Taxable equivalent adjustment (TEB) (a) 134 138 128 109 108 84 67 68 67 68
Net interest income (TEB) (a) 4,338 4,417 4,152 4,186 3,711 3,564 3,325 3,207 3,038 2,734
Year-over-year growth (%) (1.8) 6.4 (0.8) 12.8 4.1 7.2 3.7 5.6 11.1 6.2
Non-recurring items (f) 00000000614
Net interest income (TEB)
excluding non-recurring items (f) 4,338 4,417 4,152 4,186 3,711 3,564 3,325 3,207 3,032 2,720
Year-over-year growth (%) (1.8) 6.4 (0.8) 12.8 4.1 7.2 3.7 5.8 11.4 18.8
Margin
Total average assets (b) 234,944 226,714 227,450 196,721 158,316 144,115 122,234 113,387 104,591 94,118
Average net interest margin (%) 1.85 1.95 1.83 2.13 2.34 2.47 2.72 2.83 2.90 2.91
Average net interest margin
excluding non-recurring items (%) 1.85 1.95 1.83 2.13 2.34 2.47 2.72 2.83 2.90 2.89
Average Canadian dollar margin (%) 2.70 2.82 2.52 2.70 2.94 3.39 3.48 3.44 3.65 3.43
Average U.S. dollar and other
currencies margin (%) 1.01 1.19 1.17 1.48 1.58 1.22 1.59 1.94 1.84 2.11
Other Income
Deposit and payment service charges 646 616 558 508 473 451 437 430
Lending fees 322 329 290 240 194 186 180 145
Capital market fees 1,069 841 869 919 760 495 313 238
Card services 216 205 196 251 234 230 211 208
Investment management and custodial fees 373 419 407 299 221 240 197 194
Mutual fund revenues 232 207 199 155 87 53 56 30
Trading revenues 388 295 40 276 277 225 226 202
Securitization revenues 343 296158320000
Other fees and commissions
Revenue from insurance-related activities 96 73 62 62 44 36 51 18
Gains (losses) on disposal of premises
and equipment (9) (1) 7 (5) (22) (26) (12) 4
Foreign exchange revenues other than trading 146 133 103 126 120 99 89 48
Investment securities gains (losses) (b) 183 (85) 97 52 71 46 37 40
Gains (losses) on sale of discontinued businesses
(c)
114 27000000
Other 207 156 132 66 57 67 86 97
Total other fees and commissions 737 303 401 301 270 222 251 207
Total other income 4,326 3,511 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,261
Year-over-year growth (%) 23.2 12.6 4.6 18.5 19.7 12.3 13.1 17.8 11.4 16.9
Other income as a % of total revenue 49.9 44.3 42.9 41.6 40.4 37.1 36.0 34.0 31.6 31.5
Total other income 4,326 3,511 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,261
Non-recurring items (f) 226 (28) 0000000(22)
Other income excluding non-recurring items 4,100 3,539 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,283
Year-over-year growth (%) 15.8 13.5 4.6 18.5 19.7 12.3 13.1 17.8 9.5 9.4
Other income as a % of total revenue 48.6 44.5 42.9 41.6 40.4 37.1 36.0 34.0 31.6 32.0
Other Information (units
–
as at October 31)
Number of employees (d) 33,200 32,844 33,400 34,286 33,468 33,341 34,769 32,067 32,126 32,130
Number of bank branches 1,135 1,198 1,216 1,246 1,296 1,245 1,248 1,214 1,231 1,239
Number of automated
banking machines (Canada) 1,987 2,039 2,069 2,035 2,017 1,763 1,708 1,538 1,293 1,221
Rates
Average Canadian prime rate (%) 7.05 6.49 6.44 4.80 6.67 8.58 6.42 6.44 7.49 10.74
Average U.S. prime rate (%) 9.18 8.00 8.59 8.51 8.49 8.89 6.69 6.04 6.59 9.02
Canadian/U.S. dollar exchange rates ($) (e)
High 1.44 1.45 1.40 1.33 1.34 1.33 1.29 1.24 1.12 1.12
Low 1.53 1.56 1.58 1.41 1.38 1.42 1.40 1.34 1.26 1.17
Average 1.48 1.50 1.46 1.37 1.37 1.38 1.36 1.29 1.19 1.15
End of period 1.52 1.47 1.54 1.41 1.34 1.34 1.35 1.32 1.24 1.12
(a) Refer to the glossary on page 88 for a definition of the taxable equivalent basis (TEB)
adjustment.
(b) Includes a $112 million gain on sale of Partners First in 2000.
(c) Includes a $40 million gain on sale of branches and a $74 million gain on sale of Corporate
Trust in 2000. Also includes a $26.5 million gain on sale of Global Custody in 1999.
(d) This number constitutes full-time equivalent number of employees, comprising full-time,
part-time and over-time employees.
(e) 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.”
(f) Excludes non-recurring items as outlined in Table 19 on page 82.