RNS Number : 0549P
Bank of Montreal
05 December 2024
 

BANK OF MONTREAL

 

EXHIBIT TO FINANCIAL STATEMENTS FOR THE YEAR ENDED

OCTOBER 31, 2024

 

EARNINGS COVERAGE RATIO

 

The following consolidated financial ratios for the Bank, are calculated for the 12 months ended October 31, 2024 and October 31, 2023.

 

 

 

12 Months Ended October 31, 2024

 

 

12 Months Ended October 31, 2023

 

 

 

Actual

 

 

Actual

 

Interest coverage on subordinated indebtedness


  21.88 times



14.80 times


 

      

 

 

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, 2024 and October 31, 2023 the average monthly exchange rates were $1.3591 per US$1.00 and $1.3492 per US$1.00, respectively.

 

The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended October 31, 2024 were $9,982.12 million, which is 21.88 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, 2023 were $6,364.74 million, which is 14.80 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, 2024. Certain comparative figures have been reclassified for changes in accounting policy.

 

 

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