BMO(US:BMO)2024-05-29 11:53Financial Performance - Q2 2024 - Adjusted net income was $2.03 billion, a decrease of 7% year-over-year, while reported net income increased significantly by 81% to $1.87 billion[10] - Adjusted EPS was $2.59, down $0.30 year-over-year, while reported EPS was $2.36, up $1.10[10, 25] - Total assets reached $1.4 trillion[10] - The efficiency ratio was 58.0% adjusted and 60.7% reported, reflecting improvements of 170 bps and 990 bps year-over-year, respectively[10] - The Common Equity Tier 1 (CET1) ratio stood at 13.1%[10] U.S. Segment Performance - BMO U.S. Segment pre-provision pre-tax earnings (PPPT) for Q2 2024 were US$924 million[16] - BMO U.S. Segment net income was US$676 million reported and US$559 million adjusted[25] - BMO U.S. Bank has US$267 billion in assets, while the BMO U.S. Segment has US$441 billion in assets[12] - BMO U.S. Segment efficiency ratio was 64.0% reported and 58.2% adjusted[16] Canadian P&C Banking - Canadian P&C reported net income increased by 6% year-over-year to $872 million, while adjusted net income increased by 7% to $877 million[40] - Canadian P&C revenue increased by 13% year-over-year to $2.82 billion[40] - Canadian P&C net interest income increased by 12% year-over-year[40]