• M&T Bank average operating margin for 2023 was 31.63%, a 2.1% decline from 2022.
• M&T Bank average operating margin for 2022 was 32.31%, a 14.32% decline from 2021.
• M&T Bank average operating margin for 2021 was 37.71%, a 27.1% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.