17RL Bank Mont. 42

TIDM17RL

RNS Number : 6412A

Bank of Montreal

30 May 2019

BANK OF MONTREAL

EXHIBIT TO FINANCIAL STATEMENTS FOR THE QUARTER ENDED

APRIL 30, 2019

EARNINGS COVERAGE RATIO

The following consolidated financial ratios for the Bank, are calculated for the 12 months ended April 30, 2019 and October 31, 2018.

 
                         12 Months         12 Months Ended 
                        Ended April          October 31, 
                          30, 2019               2018 
                          Actual               Actual 
 Interest coverage 
  on subordinated 
  indebtedness           32.03 times         33.84 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 periods ending April 30, 2019 and October 31, 2018 the average monthly exchange rates were $1.3181 per US$1.00 and $1.2878 per US$1.00, respectively.

The Bank's earnings before interest on subordinated indebtedness and income tax for the 12 months ended April 30, 2019 were $8,146.38 million, which is 32.03 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, 2018 were $7,639.04 million, which is 33.84 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 months ended April 30, 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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