BMO Financial Group Reports First Quarter 2021 Results

BMO’s First Quarter 2021 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended January 31, 2021, is available online at www.bmo.com/investorrelations and at www.sedar.com.

Financial Results Highlights

First Quarter 2021 Compared With First Quarter 2020:

• Net income of $2,017 million, an increase of 27%; adjusted net income¹ of $2,038 million, an increase of 26%
• Reported EPS² of $3.03, an increase of 28%; adjusted EPS^1,2 of $3.06, an increase of 27%
• Provision for credit losses (PCL) of $156 million, compared with $349 million
• Reported net efficiency ratio³ of 56.7%, compared with 60.8%; adjusted net efficiency ratio^1,3 of 56.3%, compared with 60.3%
• ROE of 15.7%, compared with 13.3%; adjusted ROE¹ of 15.8%, compared with 13.5%
• Common Equity Tier 1 Ratio of 12.4%, an increase from 11.4% in the prior year

TORONTO, Feb. 23,…