Bank Of Montreal · TSX:BMO
Bank Of Montreal — Investor Presentation (January 2012)
14 slides from Bank Of Montreal's investor presentation, Jan 30, 2012
Slide 1: International Financial Reporting Standards (IFRS) Investor Update
International Financial Reporting Standards (IFRS) Investor Update January 30 2012
Slide 2: Forward Looking Statements & Non-GAAP Measures
Forward Looking Statements & Non-GAAP Measures Caution Regarding Forward-Looking Statements Bank of Montreal’s public communications often include written or oral forward-looking statements. Statements of this type are included in this document, and may be included in filings with Canadian securitie
Slide 3: Impact of IFRS - Highlights
Impact of IFRS - Highlights BMO will present financial statements prepared in accordance with IFRS when reporting Q1 2012 results; For further details on transition to IFRS, refer to disclosure on pages 73-77 in BMO’s 2011 Annual Report Key fiscal 2011 financial results and measures under IFRS c
Slide 4: Impact of IFRS on Net Income and Key Performance Measures
Impact of IFRS on Net Income and Key Performance Measures C$ millions Q1 Q2 Q3 Q4 F2011 Reported Net Income – Canadian GAAP 776 800 793 897 3,266 Consolidation requirements 9 94 (51) (121) (69) (special purpose entities) Securitization (7) (46) (2) (30) (85) (securitizations on balance sheet) Decrea
Slide 5: Adjusting Items under IFRS to F2011 Results
Adjusting Items under IFRS to F2011 Results Fiscal 2011 - Reconciliation of Net Income CGAAP IFRS Impacts IFRS Reported net Income 3,266 (152) 3,114 Adjustments Amortization of acquisition-related intangible assets 54 54 Hedge of foreign currency risk on the purchase of M&I 14 14 Cost of integration
Slide 6: Significant Accounting Changes: Consolidation
Significant Accounting Changes Consolidation Requirements primarily impact entities defined as variable interest entities (VIEs) under Canadian GAAP or special purpose entities (SPEs) under IFRS Under IFRS now required to consolidate our structured credit vehicles, U.S. customer securitization v
Slide 7: Significant Accounting Changes: General Allowance and Pensions
Significant Accounting Changes Change in General Allowance General Allowance for credit losses increased by $134 million as at October 31, 2011 under IFRS largely associated with certain securitized assets coming on our consolidated balance sheet General provision for credit losses increased by
Slide 8: Transition to IFRS – Shareholders' Equity
Transition to IFRS – Shareholders’ Equity Impact on Shareholders’ Equity as of Nov 1, 2010, the transition date Shareholders’ Equity Shareholders’ Equity F2010 reported CDN GAAP opening balance under IFRS 1,219 188 137 124 $MM 20,212 21,880 Pension Asset Consolidation Other Securitization $1
Slide 9: Transition to IFRS – Total Assets
Transition to IFRS – Total Assets Reconciliation of Total Assets as of Nov 1, 2010, the transition date F2010 reported Opening balance CDN GAAP under IFRS Consolidation $MM Pension 4,189 847 1,048 22,105 Reinsurance Asset and Other Securitization 437,733 411,640 26,093MM increase Pension a
Slide 10: IFRS Restated Balance Sheet as of November 1, 2010
IFRS Restated Balance Sheet as of November 1, 2010 IFRS Opening Balance Sheet: Increase or (Decrease) to Balance (CAD$ thousands) Foreign Post Exchange Canadian Retirement Minority Translation Total IFRS 1 GAAP Consolidation Securitization Benefit Interest Adjustment Insurance Various Adjustments IF
Slide 11: IFRS F2011 Restatements – Operating Groups
IFRS F2011 Restatements – Operating Groups IFRS restatements to F2011 operating group results not significant Personal & Commercial Banking Canada Reported net income under IFRS of $1,724 million was $23 million higher reflecting a merchant banking gain and lower employee future benefit costs. Merch
Slide 12: IFRS F2011 Restatements – Corporate Services
IFRS F2011 Restatements – Corporate Services IFRS F2011 restatements relate primarily to amounts included in Corporate results IFRS P&L restatements – Corporate Services Q2 11 restatements impacted by credit card securitization; reflects increase in overall card Reported balances sold and increase
Slide 13: Looking Ahead
Looking Ahead The IASB and FASB continue to be committed to working together to issue joint standards. The timing of new standards has been extended by the IASB in order to allow time for this collaboration. As a result, it is likely there will be delays in the IASB issuing new or revised standard
Slide 14: Investor Relations Contact Information
Investor Relations Contact Information www.bmo.com/investorrelations E-mail: investor.relations@bmo.com Fax: 416.867.3367 VIKI LAZARIS MICHAEL CHASE ANDREW CHIN Senior Vice President Director Senior Manager 416.867.6656 416.867.5452 416.867.7019 viki.lazaris@bmo.com michael.chase@bmo.com andrew.chin
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