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Bank of Montreal (94DW)

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Wednesday 04 December, 2019

Bank of Montreal

BMO 2019 Earnings Coverage Ratio

RNS Number : 5731V
Bank of Montreal
04 December 2019
 

BANK OF MONTREAL

 

EXHIBIT TO FINANCIAL STATEMENTS FOR THE YEAR ENDED

OCTOBER 31, 2019

 

 

EARNINGS COVERAGE RATIO

 

The following consolidated financial ratios for the Bank, are calculated for the 12 months ended October 31, 2019 and October 31, 2018.

 



12 Months Ended October 31, 2019



12 Months Ended October 31, 2018




Actual



Actual


Interest coverage on subordinated indebtedness


  27.05 times



33.84 times


 

      

 

 

In calculating the interest coverage ratios, foreign currency amounts have been converted to Canadian dollars using rates of exchange as at the end of each month. For the 12 month period ending October 31, 2019 and October 31, 2018 the average monthly exchange rates were $1.3288 per US$1.00 and $1.2878 per US$1.00, respectively.

 

The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended October 31, 2019 were $7,551.04 million, which is 27.05 times the Bank's aggregate interest on subordinated indebtedness requirement for this period. The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended October 31, 2018 were $7,639.04 million, which is 33.84 times the Bank's aggregate interest on subordinated indebtedness requirement for this period.

 

The amounts and ratios reported above are derived from information in the consolidated financial statements for the year ended October 31, 2019.

 

 


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