Exhibit 99.1
BANK OF MONTREAL
EXHIBIT TO FINANCIAL STATEMENTS FOR THE QUARTER ENDED
JANUARY 31, 2019
EARNINGS COVERAGE RATIO
The following consolidated financial ratios for the Bank, are calculated for the 12 months ended January 31, 2019 and October 31, 2018.
| | | | | | | | |
| | | 12 Months Ended
January 31, 2019
Actual | | | 12 Months Ended
October 31, 2018
Actual | |
Interest coverage on subordinated indebtedness | | | 32.24 times | | | | 33.84 times | |
In calculating theinterest 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 January 31, 2019 and October 31, 2018the average monthly exchange rates were $1.3072 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 January 31, 2019 were $7,817.00 million, which is 32.24 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 January 31, 2019. Certain comparative figures have been reclassified to conform with the current year’s presentation.
