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Bank of Montreal (94DW)

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Wednesday 26 February, 2020

Bank of Montreal

BMO Q1 2020 Earnings Coverage Ratio

RNS Number : 1205E
Bank of Montreal
25 February 2020
 

BANK OF MONTREAL

 

EXHIBIT TO FINANCIAL STATEMENTS FOR THE QUARTER ENDED

JANUARY 31, 2020

 

 

EARNINGS COVERAGE RATIO

 

The following consolidated financial ratios for the Bank, are calculated for the 12 months ended January 31, 2020 and October 31, 2019 .

 



12 Months Ended January 31, 2020



12 Months Ended October 31, 2019




Actual



Actual


Interest coverage on subordinated indebtedness


 27.47 times



27.05 t imes


 

 

 

 

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 January 31, 2020 and October 31, 2019   the average monthly exchange rates were $1.3241 per US $1.00 and $1.3288 p er US$1.00, respectively.

 

The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended January 31, 2020 were $7,667.13 million, which is 27.47 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, 2019 were $7,551.04 million, which is 27.05 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 unaudited interim consolidated financial statements for the three months ended January 31, 2020.

 

 


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