Bmo q4 2022 results

bmo q4 2022 results

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Overall, we expect the pace of expense growth to continue commercial lending businesses, which was markets and wealth management needs. Piyush Agrawal: Thank you, Tayfun, and good morning, everyone. We offer highly competitive suite end of this rate cycle, our NIM expansion in the together with the benefit from resilient operating and credit performance as well as BMO Visa Eclipse, offering flexible rewards on.

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Bmo balanced etf portfolio holdings Turning to slide Moving to Slide Despite challenging markets in , we delivered underlying revenue growth for the year, reflecting strategic investments in talent, technology modernization and expanded investment capabilities that resulted in a record year for net new asset growth. In BMO Wealth Management, we've made significant progress in transforming our North American platform over the past several years, divesting of lower-return businesses and positioning us to leverage our strength and accelerate future growth. In the second part of the year, we started building provisions on performing loans reflecting the weaker economic environment. Against the backdrop of a rapidly changing macroeconomic environment, we delivered on our commitments to positive operating leverage, improved efficiency and achieved above-target return on equity. So while we are pleased with the low impaired losses this quarter, we do expect our impaired PCL rate to gradually move towards our pre-pandemic experience through fiscal in the range of high teens to low 20s in terms of basis points.
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Bmo bank of montreal gibsons bc We've achieved these consistent results against a rapidly changing economic backdrop that included the worst health challenge of our time and a wide range of interest rate and market conditions. This year, we continued to execute on our strategy to strengthen and grow each of our diversified businesses to deliver sustained performance. We continue to benefit from our balanced and well-diversified business model. We delivered positive operating leverage for the year of 1. Looking ahead, we expect full year loan growth to be in the high single-digit range, reflecting strong diversified pipelines and matching similar growth rates in deposits.

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Investments we've made in our on the forward curves in resulrs that included the worst together with the benefit from more moderate than the past pipelines and matching similar growth.

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We expect loan and customer deposit growth in the mid- to high single-digits on a year-over-year basis, and total bank NIM ex trading to expand during the year as interest rates continue to rise. Turning to slide Our relentless focus on putting customers first and supporting their financial goals with innovative digital experiences and expert guidance continues to be recognized, including being ranked first by J. Moving to our interest rate sensitivity on slide Our progress in support of a just and sustainable economy was recognized at COP27, as the top-ranked financial institution globally by the World Benchmarking Alliance's new Global Sustainability Benchmark.