Expectations For BMO Turned Out Better Than Expected
The net income for the Bank of Montreal went up by 4 percent in the quarter towards the end of last month. Expectations weren’t high for the earnings; however, the net income was still better off compared to last year’s own. From the result that the bank got, it showed that the profits they made amounted to $1.5 billion with earning per share which went up by 3 percent to $1.86 this year.
The profit turned out stronger in the bank’s US individual and other commercial banking dealings and operations, which went up by 24 percent to C$277 million, while the BMP Capital Market increased higher by 18 percent to C$321 million during this period.
The country’s commercial and personal banking purpose went up higher by 1 percent to $561 million. Another cash which was about $257 was kept to cover any bad loans or mortgages that had to be paid off. It also went up to $97 million during the same quarter of last year.