TORONTO, ONTARIO--(Marketwired - May 30, 2013) - BMO Financial Group (TSX:BMO)(NYSE:BMO) and Bank of Montreal -

Financial Results Highlights:

Second Quarter 2013 Compared with Second Quarter 2012:

Net income of $975 million, down 5%; adjusted net income1 of $997 million, up 2%

EPS2 of $1.42, down 6%; adjusted EPS1,2 of $1.46, up 1%

ROE of 14.2%, compared with 16.2%; adjusted ROE1 of 14.5%, compared with 15.4%

Provisions for credit losses of $145 million, compared with $195 million; adjusted provisions for credit losses1 of $110 million, compared with $151 million

Basel III Common Equity Ratio is strong at 9.7%

Year-to-Date 2013 Compared with Year-to-Date 2012:

Net income of $2,023 million, down 5%; adjusted net income1 of $2,038 million, up 4%

EPS2 of $2.95, down 6%; adjusted EPS1,2 of $2.97, up 4%

ROE of 14.6%, compared with 16.7%; adjusted ROE1 of 14.7%, compared with 15.2%

Provisions for credit losses of $323 million, compared with $336 million; adjusted provisions for credit losses1 of $206 million, compared with $242 million

For the second quarter ended April 30, 2013, BMO Financial Group reported net income of $975 million or $1.42 per share on a reported basis and net income of $997 million or $1.46 per share on an adjusted basis.

"BMO's second quarter reflects solid operating performance," said Bill Downe, President and Chief Executive Officer, BMO Financial Group. "Our wealth, capital markets, and U.S. personal and commercial banking businesses each had a good quarter. We saw continuing volume growth in Canadian personal and commercial lending as a result of new business opened. P&C Canada is taking share and is confident in its ability to convert new customers into multi-product relationships.

"We continue to have strong performance in commercial banking. The core U.S. commercial and industrial portfolio is up 17 per cent year over year, marking the sixth quarter of sequential growth. In Canada, where we have the number two market share in small and medium-sized commercial loans, both commercial loan and deposit balances increased 12 per cent year over year.

"Management's focus on organizational efficiency is a multi-year commitment. Our first priority is sustainable revenue growth - and the disciplined management of expense is an ongoing dimension of profitable growth. Our strong capital position continues to give us flexibility. During the quarter, our Basel III Common Equity Tier 1 Ratio increased, while we also purchased four million shares under our normal course issuer bid.

"Looking forward, we have an advantaged business mix and are well-positioned for the current environment given our footprint in an improving U.S. Midwest economy, combined with our strength in commercial banking, capital markets and wealth. These are important differentiators. At the same time, we continue to focus on what's necessary to support future growth, and are confident that the value we create for customers will translate into financial performance for the bank," concluded Mr. Downe.

To view the full version please click the link: http://www.marketwire.com/press-release/bmo-financial-group-reports-solid-results-for-the-second-quarter-of-2013-tsx-bmo-1795664.htm

® Registered trademark of Bank of Montreal

Media Relations Contacts

Ralph Marranca, Toronto

416-867-3996

[email protected]

Ronald Monet, Montreal

514-877-1873

[email protected]

Investor Relations Contacts

Sharon Haward-Laird

Head, Investor Relations

416-867-6656

[email protected]

Andrew Chin

Director

416-867-7019

[email protected]

Chief Financial Officer

Tom Flynn

Executive Vice-President and CFO

416-867-4689

[email protected]

Corporate Secretary

Barbara Muir

Senior Vice-President, Deputy General Counsel,

Corporate Affairs and Corporate Secretary

416-867-6423

[email protected]