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Review of Operating Groups' Performance
----------------------------------------------------------------------------Operating Groups' Summary Income Statements and Statistics for Q1- 2013 Table 21---------------------------------------------------------------------------- Q1-2013 --------------------------------------(Canadian $ in millions, except as BMO Total noted) P&C PCG CM Corp BMO----------------------------------------------------------------------------Net interest income (teb) (1) 1,702 137 298 79 2,216Non-interest revenue 613 642 606 4 1,865----------------------------------------------------------------------------Total revenue (teb) (1) 2,315 779 904 83 4,081Provision for credit losses 160 2 (15) 31 178Non-interest expense 1,262 569 515 244 2,590----------------------------------------------------------------------------Income before income taxes 893 208 404 (192) 1,313Income taxes (recovery) (teb) (1) 253 45 94 (127) 265----------------------------------------------------------------------------Reported net income Q1-2013 640 163 310 (65) 1,048Reported net income Q4-2012 582 164 314 22 1,082Reported net income Q1-2012 600 104 224 181 1,109--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusted net income Q1-2013 656 169 310 (94) 1,041Adjusted net income Q4-2012 600 169 315 41 1,125Adjusted net income Q1-2012 619 109 224 20 972--------------------------------------------------------------------------------------------------------------------------------------------------------Other statistics (% except as noted)----------------------------------------------------------------------------Net economic profit ($ millions) (2) 287 95 153 (217) 318Return on equity 18.7 23.2 21.3 nm 14.9Adjusted return on equity 19.1 24.1 21.3 nm 14.8Operating leverage 1.5 9.8 10.3 nm (2.3)Adjusted operating leverage 1.2 10.1 10.3 nm (0.4)Efficiency ratio (teb) 54.5 73.0 56.9 nm 63.5Adjusted efficiency ratio (teb) 53.6 71.9 56.9 nm 63.8Net interest margin on earning assets (teb) 3.05 2.90 0.59 nm 1.85Adjusted net interest margin on earning assets (teb) 3.05 2.90 0.59 nm 1.67Average common equity ($ millions) 13,206 2,764 5,573 4,985 26,528Average earning assets ($ billions) 221 19 201 34 475Full-time equivalent staff 24,554 6,108 2,205 13,633 46,500--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Operating group revenues, income taxes and net interest margin are stated on a taxable equivalent basis (teb). The group teb adjustments are offset in Corporate Services, and Total BMO revenue, income taxes and net interest margin are stated on a GAAP basis.(2) Net economic profit is a non-GAAP measure. Please see the Non-GAAP Measures section.Adjusted results in this table are non-GAAP amounts or non-GAAP measures.Please see the Non-GAAP Measures section.Corp means Corporate Services, including Technology and Operations.nm - not meaningful
