Financial PerformanceThe US segment met the forecast on PTPP with a 6% reduction in non-interest expense, providing the segment with solid operating leverage and reducing the firm’s efficiency ratio by approximately 300 basis points year-over-year.
Growth PotentialBMO still has the potential for outsized medium-term growth as credit concerns subside, leading to an analyst maintaining a BUY rating.
Operational EfficiencyTotal revenues were flat while expenses were down 5.0%, leading to PTPP growth of 8.0%, showcasing strong operational efficiency.