Summary by Moomoo AI
Bank of Montreal has reported robust financial performance with significantly improved interest coverage ratios for the period ending July 31, 2024. The bank's interest coverage on subordinated indebtedness reached 20.14 times, marking a substantial increase from 14.80 times reported for October 31, 2023.The bank's earnings before interest on subordinated indebtedness and income tax amounted to 9.16 billion CAD for the 12 months ended July 31, 2024, compared to 6.36 billion CAD for the period ended October 31, 2023. The calculations were based on average monthly exchange rates of 1.3592 CAD per USD for the July 2024 period and 1.3492 CAD per USD for the October 2023 period.