BMO Financial Group reports strong 2014 results

BMO Financial Group, the Canadian parent company of BMO Harris Bank, today reported fiscal 2014 net income of $3.8 billion, or $5.62 per share, up from $3.7 billion, or $5.41 per share, in 2013.

Revenue was $14.7 billion, up from $14.1 billion a year ago.

Fourth quarter net income was $938.8 million, or $1.36 per share, down from $942.3 million, or $1.40 per share, in the fourth quarter of 2013.

Fourth quarter revenue was $3.8 billion, up from $3.6 billion in the same period last year.

U.S. Personal & Commercial Banking reported fourth quarter net income of $147.5 million, up from $89.5 million in the same period a year ago.

In Wisconsin, BMO Harris held its second place FDIC market share ranking, at a higher 13.6 percent deposit market share.

“BMO’s fourth quarter results conclude a year in which the bank delivered $4.5 billion (Canadian) in adjusted net income with adjusted earnings per share up 6 percent from last year,” said Bill Downe, chief executive officer, BMO Financial Group. “This performance reflects a well-executed customer-focused strategy and the momentum we have demonstrated over a number of consecutive quarters.

“U.S. Personal and Commercial Banking finished the year with good momentum and balance sheet growth, demonstrating improved revenue and earnings trends in the second half of the year.”

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