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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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