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Operating Segmentation
 3 Months Ended
Jan. 31, 2025
Text Block [Abstract]  
Operating Segmentation
Note 12: Operating Segmentation
Operating Groups
We conduct our business through three operating groups, each of which has a distinct mandate. Our operating groups are Personal and Commercial Banking (P&C) (comprised of Canadian Personal and Commercial Banking (Canadian P&C) and U.S. Personal and Commercial Banking (U.S. P&C)), BMO Wealth Management (BMO WM) and BMO Capital Markets (BMO CM), along with a Corporate Services unit.
For additional information refer to Note 26 of our annual consolidated financial statements for the year ended October 31, 2024.
Our results and average assets, grouped by operating segment, are as follows:
 
(Canadian $ in millions)
                                    
For the three months ended January 31, 2025
  
Canadian
P&C
    
U.S. P&C
    
BMO WM
    
BMO CM
    
Corporate
Services
(1)
    
Total
  
Net interest income (2)
  
$
2,385
    
$
2,205
    
$
355
    
$
699
    
$
(246
) 
  
$
5,398
  
Non-interest
revenue
    
680
      
471
      
1,231
      
1,374
      
112
      
3,868
  
Total Revenue
    
3,065
      
2,676
      
1,586
      
2,073
      
(134
) 
    
9,266
  
Provision for credit losses on impaired loans
    
491
      
312
      
1
      
35
      
20
      
859
  
Provision for (recovery of) credit losses on performing loans
    
51
      
102
      
(1
) 
    
11
      
(11
) 
    
152
  
Total provision for credit losses
    
542
      
414
      
-
      
46
      
9
      
1,011
  
Depreciation and amortization
    
153
      
240
      
67
      
85
      
-
      
545
  
Non-interest
expense
    
1,137
      
1,298
      
1,028
      
1,170
      
249
      
4,882
  
Income (loss) before taxes and
non-controlling
interest in subsidiaries
    
1,233
      
724
      
491
      
772
      
(392
) 
    
2,828
  
Provision for (recovery of) income taxes
    
339
      
144
      
122
      
185
      
(100
) 
    
690
  
Reported net income (loss)
  
$
894
    
$
580
    
$
369
    
$
587
    
$
(292
) 
  
$
2,138
  
Non-controlling
interest in subsidiaries
  
$
-
    
$
-
    
$
-
    
$
-
    
$
4
    
$
4
  
Net income (loss) attributable to bank shareholders
  
$
894
    
$
580
    
$
369
    
$
587
    
$
(296
) 
  
$
2,134
  
Average assets (3)
  
$
341,485
    
$
248,222
    
$
70,005
    
$
578,930
    
$
282,872
    
$
1,521,514
  
             
For the three months ended January 31, 2024
  
Canadian
P&C
    
U.S. P&C
    
BMO WM
    
BMO CM
    
Corporate
Services (1)
    
Total
  
Net interest income (2)
  
$
2,141
    
$
2,058
    
$
325
    
$
505
    
$
(308
) 
  
$
4,721
  
Non-interest
revenue
    
637
      
396
      
1,003
      
1,084
      
(169
) 
    
2,951
  
Total Revenue
    
2,778
      
2,454
      
1,328
      
1,589
      
(477
) 
    
7,672
  
Provision for credit losses on impaired loans
    
238
      
183
      
3
      
11
      
38
      
473
  
Provision for (recovery of) credit losses on performing loans
    
57
      
107
      
10
      
(33
) 
    
13
      
154
  
Total provision for (recovery of) credit losses
    
295
      
290
      
13
      
(22
) 
    
51
      
627
  
Depreciation and amortization
    
143
      
246
      
66
      
77
      
-
      
532
  
Non-interest
expense
    
1,067
      
1,220
      
931
      
1,039
      
600
      
4,857
  
Income (loss) before taxes and
non-controlling
interest in subsidiaries
    
1,273
      
698
      
318
      
495
      
(1,128
) 
    
1,656
  
Provision for (recovery of) income taxes
    
352
      
138
      
78
      
102
      
(306
) 
    
364
  
Reported net income (loss)
  
$
921
    
$
560
    
$
240
    
$
393
    
$
(822
) 
  
$
1,292
  
Non-controlling
interest in subsidiaries
  
$
-
    
$
-
    
$
-
    
$
-
    
$
2
    
$
2
  
Net income (loss) attributable to bank shareholders
  
$
921
    
$
560
    
$
240
    
$
393
    
$
(824
) 
  
$
1,290
  
Average assets (3)
  
$
  321,018
    
$
  232,345
    
$
   62,524
    
$
  438,202
    
$
  267,902
    
$
  1,321,991
  
 
(1)
Corporate Services includes Technology and Operations.
(2)
Operating groups report on a taxable equivalent basis (teb). Revenue and the provision for income taxes are increased on
tax-exempt
securities to an equivalent
before-tax
basis to facilitate comparisons of income between taxable and
tax-exempt
sources. The offset to the groups’ teb adjustments is reflected in Corporate Services revenue and provision for income taxes.
(3)
Included within average assets are average earning assets, which are comprised of deposits with other banks, deposits at central banks, securities borrowed or purchased under resale agreements, loans and securities. Total average earning assets for three months ended January 31, 2025 are $1,319,541 million, including $339,325 million for Canadian P&C, $227,215 million for U.S. P&C, and $753,001 million for all other operating segments including Corporate Services (for three months ended January 31, 2024 – Total: $1,194,407 million, Canadian P&C: $307,501 million, U.S. P&C: $212,331 million and all other operating segments: $674,575 million).