Bank of Montreal 2015 Annual Report Download - page 109

Supplemental Information
SUPPLEMENTAL INFORMATION
Table 3: Revenue and Revenue Growth
($ millions, except as noted)
For the year ended October 31 2015 2014 2013 2012 2011
5-year
CAGR
10-year
CAGR
Net Interest Income 8,970 8,461 8,677 8,937 7,474 7.5 6.5
Year-over-year growth (%) 6.0 (2.5) (2.9) 19.6 19.9 na na
Adjusted Net Interest Income 8,971 8,461 8,020 8,158 7,248 7.5 6.5
Year-over-year growth (%) 6.0 5.5 (1.7) 12.6 16.2 na na
Net Interest Margin (1)
Average earning assets 579,471 528,786 485,191 461,018 404,195 11.8 9.1
Net interest margin (%) 1.55 1.60 1.79 1.94 1.85 na na
Adjusted net interest margin (%) 1.55 1.60 1.65 1.77 1.79 na na
Canadian dollar net interest margin (%) 1.68 1.74 1.82 1.89 1.99 na na
U.S. dollar and other currencies net interest margin (%) 1.38 1.41 1.74 2.01 1.61 na na
Non-Interest Revenue
Securities commissions and fees 953 934 846 825 1,215 (2.4) (1.4)
Deposit and payment service charges 1,077 1,002 916 929 834 6.1 3.9
Trading revenues 987 949 849 1,025 549 14.4 7.1
Lending fees 737 680 603 544 593 5.2 8.9
Card fees 460 462 461 441 689 14.6 3.3
Investment management and custodial fees 1,500 1,246 971 967 496 33.4 17.3
Mutual fund revenues 1,385 1,073 832 665 633 20.3 12.2
Underwriting and advisory fees 706 744 659 600 512 9.7 7.1
Securities gains, other than trading 171 162 285 152 189 nm nm
Foreign exchange, other than trading 172 179 172 153 130 13.0 5.9
Insurance income (2) 1,762 2,008 1,212 1,509 1,401 5.5 20.0
Other revenues 509 323 347 356 346 17.8 1.6
Total Non-Interest Revenue 10,419 9,762 8,153 8,166 7,587 8.2 7.1
Year-over-year growth (%) 6.7 19.7 (0.2) 7.6 7.9 na na
Non-interest revenue as a % of total revenue 53.7 53.6 48.4 47.7 50.4 na na
Adjusted Non-Interest Revenue 10,420 9,762 8,119 7,882 7,612 8.2 7.1
Year-over-year adjusted non-interest revenue growth (%) 6.8 20.2 3.0 3.6 8.3 na na
Adjusted non-interest revenue as a % of total adjusted revenue 53.7 53.6 50.3 49.1 51.2 na na
Total Revenue 19,389 18,223 16,830 17,103 15,061 7.9 6.8
Year-over-year total revenue growth (%) 6.4 8.3 (1.6) 13.6 13.5 na na
Total Revenue, net of CCPB (2) 18,135 16,718 16,063 15,929 13,943 8.2 6.3
Year-over-year total revenue growth, net of CCPB (%) 8.5 4.1 0.8 14.2 13.9 na na
Total Adjusted Revenue 19,391 18,223 16,139 16,040 14,860 7.9 6.8
Year-over-year total adjusted revenue growth (%) 6.4 12.9 0.6 7.9 12.0 na na
Total Adjusted Revenue, net of CCPB (2) 18,137 16,718 15,372 14,866 13,742 8.2 6.3
Year-over-year total adjusted revenue growth, net of CCPB (%) 8.5 8.7 3.4 8.2 12.3 na na
Five-year and ten-year CAGR based on CGAAP in 2010 and 2005, respectively, and on IFRS in 2015. 2011 growth rates based on CGAAP in 2010 and IFRS in 2011.
2011 has not been restated to reflect the new IFRS standards adopted in 2014. The adoption of new IFRS standards in 2015 only impacted our results prospectively.
(1) Net interest margin is calculated based on average earning assets.
(2) Beginning in 2015, insurance claims, commissions and changes in policy benefit liabilities (CCPB) are reported separately. They were previously reported as a reduction in insurance revenue in
non-interest revenue. Prior period amounts and ratios have been reclassified.
na – not applicable
nm – not meaningful
120 BMO Financial Group 198th Annual Report 2015