Management remarks
Call period: 2026 Q3 · 2026-08-25
Guidance: Rahul Nalgirkar: We remain on track to deliver against our guidance of mid-single-digit core expense growth and positive operating leverage for the full year.Demand and orders: Darryl White: As demand for critical minerals, energy infrastructure and resource investment continues to grow, BMO is helping clients execute transformative transactions that strengthen the economy and support long-term economic growth.Margins: Rahul Nalgirkar: NIM ex Markets declined 3 basis points sequentially with higher operating segment margins more than offset by higher levels of low-yielding liquid assets and lower NII in corporate.Analyst Q&A
Analyst Doug Young asked: I appreciate that. And then just a quick one it sounds like you're holding more liquidity than normal. Can you quantify what the impact that had on NIMs this quarter? Management Rahul Nalgirkar answered: If I were to quantify of the 3 basis points NIM decline, which we had quarter-over-quarter, almost 2 basis points is related to higher liquidity, which we have in corporate.管理层陈述
电话会期间：2026 Q3 · 2026-08-25
指引：我们仍有望达成全年指引目标：核心费用增长处于中个位数区间，且实现正向运营杠杆。需求与订单：随着关键矿产、能源基础设施及资源投资的需求持续增长，BMO正协助客户完成可提振经济、支持长期经济增长的变革性交易。利润率：排除市场业务后的净息差（NIM）环比下降3个基点，运营板块更高的利润率被更多低收益率流动资产及企业部门净利息收入下滑部分抵消。分析师问答
分析师道格·杨提问：目前你们持有的流动性高于正常水平，能否量化说明这对本季度净息差（NIM）的影响？ 管理层拉胡尔·纳尔吉卡尔回应：本季度净息差环比下降3个基点，其中近2个基点与公司层面增加的流动性有关。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
