BMO - BMO's Q4 Revenue And Profit Drop Increases Dividend By 3% | Benzinga
Bank of Montreal (NYSE: BMO) reported a fourth-quarter FY23 revenue decrease of 22.3% year-over-year to C$8.36 billion.
Adjusted revenue, net of CCPB, was $8.22 billion, an increase of 19% Y/Y.
Adjusted EPS was C$2.81 vs. C$3.04 in 4Q22. BMO's net income fell to C$1.617 billion.
Provision for credit losses for Q4 was C$446 million, compared to C$226 million a year ago. Return on equity (ROE) was 8.6% for the quarter, compared with 27.6% a year ago, and adjusted ROE was 11.7%, compared with 12.9%.
Common Equity Tier 1 ratio decreased to 12.5% from 16.7% in ...