First Quarter 2022 Results BMO's First Quarter 2022 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended January 31, 2022, is available online at www.bmo.com/investorrelations and at www.sedar.com.
Financial Results Highlights
First Quarter 2022 Compared With First Quarter 2021:
- Net income of $2,933 million, an increase of 45%; adjusted net income1,3 of $2,584 million, an increase of 27%
- Reported earnings per share (EPS)2 of $4.43, an increase of 46%; adjusted EPS1,2,3 of $3.89, an increase of 27%
- Recovery of the provision for credit losses of $99 million, compared with a provision for credit losses of $156 million
- Return on equity (ROE) of 21.4%, an increase from 15.7%; adjusted ROE1,3 of 18.8%, an increase from 15.8%
- Common Equity Tier 1 Ratio4 of 14.1%, an increase from 12.4%
TORONTO, Mar. 1, 2022 /PRNewswire/ - For the first quarter ended January 31, 2022, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $2,933 million or $4.43 per share on a reported basis, and net income of $2,584 million or $3.89 per share on an adjusted basis.