Bank of Montreal (BMO) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the BMO Financial Group's Q3 2025 earnings release and conference call for August 26, 2025. Your host for today is Christine Viau. Please go ahead. Thank you. We will begin today's call with remarks from Gerald White, BMO CEO, followed by Typhoon Tizun, our Chief Financial Officer, and Piyush Agrawal, our Chief Risk Officer. Also present to answer questions are our group heads. Matt Marotra, Canadian Personal and Business Banking, Sharon Hayward-Laird, Canadian Commercial Banking, Aaron Levine, U.S. Banking, Alan Tenenbaum, BMO Capital Markets, Dellen Kamenga, BMO Wealth Management, and Daryl Hackett, BMO U.S. CEO. As our call will end at 8.15, and to give everyone a chance to participate, please limit your questions to one and re-queue. As noted on slide two, forward-looking statements may be made during this call, which involve assumptions that have inherent risks and uncertainties. Actual results could differ materially from these statements. I would also remind listeners that the bank uses non-GAAP financial measures to arrive at adjusted results. Management measures performance on a reported and adjusted basis and considers both to be useful in assessing underlying business performance. Daryl and Typhoon will be referring to adjusted results in their remarks unless otherwise noted as reported. And now I'll turn the call over to Daryl. Thank you, Christine, and good morning, everyone. This morning we announced another quarter of strong earnings growth and progress against our ROE rebuild objective. Third quarter earnings per share increased 22 percent to $3.23, and net income of $2.4 billion was the second highest quarter on record. Pre-provisioned pre-tax earnings of $4 billion were up 13 percent, with good contribution from every ope...