11:54 AM EST - BMO Financial Group : disclosed its financial results for 2011 as restated to conform with International Financial Reporting Standards (IFRS). All restated amounts are unaudited and are expressed in Canadian dollars. Adjusted net income for fiscal 2011 of $3,275 million, as derived from IFRS results, was $6 million lower than the previously reported adjusted net income of $3,281 million as derived from CGAAP results. Reported net income of $3,114 million under IFRS was $152 million lower than the previously reported net income under CGAAP, as explained in more detail below. Adjusted earnings per share of $5.10 and reported earnings per share of $4.84 declined $0.19 and $0.42, respectively, from amounts previously reported. Reported ROE of 15.1% decreased 20 basis points and adjusted ROE of 16.0% increased 70 basis points as a result of adopting IFRS. BMO Financial Group
shares T.BMO are trading down $1.38 at $57.84.
