Bank of Montreal BMO 2023 Earnings Coverage Ratio (6028V)

TIDM0UKH

RNS Number : 6028V

Bank of Montreal

04 December 2023

BANK OF MONTREAL

EXHIBIT TO FINANCIAL STATEMENTS FOR THE YEAR ENDED

OCTOBER 31, 2023

EARNINGS COVERAGE RATIO

The following consolidated financial ratios for the Bank, are calculated for the 12 months ended October 31, 2023 and October 31, 2022 .

 
                         12 Months            12 Months 
                        Ended October        Ended October 
                          31, 2023             31, 2022 
                           Actual               Actual 
 Interest coverage 
  on subordinated 
  indebtedness           14.61 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 October 31, 2023 and October 31, 2022 the average monthly exchange rates were $1.3492 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 October 31, 2023 were $6,281.28 million, which is 14.61 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 consolidated financial statements for the year ended October 31, 2023.

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December 04, 2023 09:14 ET (14:14 GMT)

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