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Bank of Montreal
Bank of Montreal (BMO) investor relations material
Bank of Montreal Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary25 Aug, 2026
Executive summary
Adjusted EPS rose 22% year-over-year to CAD 3.96, while reported EPS declined 24%, and pre-provision, pre-tax earnings (PPPT) increased 13%.
Adjusted net income increased 19% year-over-year to CAD 2.9 billion, while reported net income fell 25% to CAD 1.8 billion due to a CAD 973 million goodwill charge from divestitures.
All business segments achieved record PPPT, with strong momentum in Capital Markets and Wealth Management, and continued commercial loan growth in both Canada and the U.S.
Return on equity (ROE) improved to 14% (up 200 bps year-over-year), with a clear path to a sustainable 15% ROE by fiscal 2027.
Announced divestitures and new share repurchase program expected to add 50 basis points to CET1 ratio and support capital reallocation to higher-return opportunities.
Financial highlights
Revenue grew 11% year-over-year, with positive operating leverage of 1.6%.
Non-interest revenue increased 26% year-over-year, driven by higher wealth management, trading, and lending fees.
Efficiency ratio improved to 54.9% (adjusted), with expenses up 9% (6% excluding FX and performance-based compensation).
CET1 ratio stable at 13.0%, with strong capital generation net of dividends and share repurchases.
Provision for credit losses (PCL) was CAD 722 million, down from the prior quarter.
Outlook and guidance
Confident in achieving medium-term objective of 15% ROE by fiscal 2027, with continued focus on sustainable profitable growth and capital optimization.
Expect core margin trends in Canadian P&C and U.S. Banking to remain resilient, with NIM stability supported by deposit mix improvement and disciplined pricing.
Guidance for mid-single digit core expense growth and positive operating leverage for the full year remains unchanged.
Fourth quarter impaired PCL expected to be in line with third quarter, with no change to 2026 guidance.
Strategic initiatives include AI-driven client experience enhancements and business automation.
Rationale for U.S. branch divestitures
Drivers of mortgage payment decreases at renewal
SmartDecision impact on underwriting efficiency
Rationale for Transportation Finance divestiture
Capital allocation priorities and new NCIB plans
Macro outlook impact on performing loan PCL
CET1 impact of announced divestitures
U.S. tariff impact on Canadian GDP growth
Burgundy earn-out impact on Wealth revenue
Capital reallocation plan for 50 bps CET1 gain
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Latest events from Bank of Montreal
- Adjusted EPS up 40%, net income up 34%, and ROE at 13.5% with strong segment growth.BMO
Q2 2026 - Board and management proposals passed; strong results and innovation highlighted amid global uncertainty.BMOAGM 2026
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- Stable credit provisions and strong risk management offset macro and sector uncertainties.BMONBF’s 24th Annual Financial Services Conference
- Record earnings and revenue growth, strong capital, and robust credit quality.BMOQ1 2026
- Adjusted net income declined 15% year-over-year, but capital and digital momentum remain strong.BMOQ4 2024
- Adjusted net income and EPS rose, with strong capital and higher credit provisions.BMOQ2 2025
- ROE improvement and declining PCLs are priorities, with a positive U.S. outlook and firm climate goals.BMORBC Capital Markets Canadian Bank CEO Conference 2025
- Q1 2025 adjusted net income rose 21% with strong capital, higher dividend, and share buybacks.BMOQ1 2025
Next Bank of Montreal earnings date
Q4 20263 Dec, 2026
Bank of Montreal
Next Bank of Montreal earnings date
Q4 20263 Dec, 2026
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