EARNINGS COVERAGE RATIO
The following consolidated financial ratios for the Bank, are calculated for the 12 months ended April 30, 2022 and October 31, 2021.
12 Months Ended April 30, 2022 Actual |
12 Months Ended October 31, 2021 Actual | |||
Interest coverage on subordinated indebtedness | 89.20 times | 53.65 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 April 30, 2022 and October 31, 2021 the average monthly exchange rates were $1.2558 per US$1.00 and $1.2554 per US$1.00, respectively.
The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended April 30, 2022 were $16,202.48 million, which is 89.20 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, 2021 were $10,453.18 million, which is 53.65 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 unaudited interim consolidated financial statements for the three and six months ended April 30, 2022 and the consolidated financial statements for the year ended October 31, 2021.
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BMO - Bank of Montreal published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2022 04:35:40 UTC.