1、98THE YEAR EVERYTHING CHANGEDB A N KO FM O N T R E A L G R O U PO FC O M P A N I E S1 8 1 S TA N N U A L R E P O R T 1 9 9 8Net Income up 3.5%989796959493929190NET INCOME($millions)1,3051,1689868257096405955221,350989796959493929190FULLY DILUTED EARNINGSPER SHARE($)4.624.133.382.972.552.362.312.104.
2、66989796959493929190RETURN ON COMMON SHAREHOLDERS EQUITY(%)17.117.015.414.914.114.115.014.615.2989796959493929190TOTAL RETURN TO SHAREHOLDERS($billions)1.2(0.4)2.84.04.25.88.814.615.9ROE OBJECTIVE(1517%)ROE at 15.2%Shareholder Value up$1.3 billionEPS of$4.662Chairmans Message5A Different World13Pres
3、idents Message17Performance at a Glance20Management Analysis of Operations68Consolidated Financial Statements92Glossary93Corporate Governance97Shareholder InformationP E R F O R M A N C E F O R 1 9 9 8BANK OF MONTREAL AT A GLANCEB A N K O F M O N T R E A L G R O U P O F C O M P A N I E SPersonal and
4、 Commercial Financial Services(PCFS)Personal and Commercial Financial Services(PCFS)provides a full range of financial products and services toabout six million Canadian households and commercial businesses,with an aim of achieving an appropriate valueproposition for each relationship.Working with o
5、ther Bankgroups,PCFS meets the sophisticated demands of its clients as changing demographics cause a shift in focus to wealth management and retirement planning.Harris Regional BankingHarris Regional Banking is one of the largest communitybanking networks in Chicago and surrounding communities,and o
6、ne of the premier mid-market corporate banks in theU.S.Midwest.The centrepiece of our U.S.strategy,Harrisserves individuals,small businesses and mid-sized corpora-tions,providing a comprehensive range of banking,trust and investment services.Electronic Financial Services(EFS)Electronic Financial Ser