Bank of Montreal BMO Q3 2023 Earnings Coverage Ratio (7230K)
30 August 2023 - 4:00PM
UK Regulatory
TIDM0UKH
RNS Number : 7230K
Bank of Montreal
29 August 2023
BANK OF MONTREAL
EXHIBIT TO FINANCIAL STATEMENTS FOR THE QUARTER ENDED
JULY 31, 2023
EARNINGS COVERAGE RATIO
The following consolidated financial ratios for the Bank, are
calculated for the 12 months ended July 31, 2023 and October 31,
2022 .
12 Months 12 Months
Ended July Ended October
31, 2023 31, 2022
Actual Actual
Interest coverage
on subordinated
indebtedness 25.92 times 79.95 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 July 31, 2023 and October 31, 2022 the average monthly
exchange rates were $1.3458 per US$1.00 and $1.2918 per US$1.00,
respectively.
The Bank's earnings before interest on subordinated indebtedness
and income tax for the 12 months ended July 31, 2023 were
$10,004.33 million, which is 25.92 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, 2022 were
$18,111.58 million, which is 79.95 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 and nine months ended July 31, 2023 and
the consolidated financial statements for the year ended October
31, 2022.
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