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Bank of Montreal’s quarterly profit falls on higher bad loan provisions

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BMO posted earnings per share of $2.78 in the most recent quarter, compared with $3.09 in the same period a year earlier

on Tuesday reported a decline in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover potential losses from loan defaults.

The bank reported adjusted net income of $2.04 billion, or $2.78 per share, in the three months ended July 31, compared with $2.13 billion, or $3.09 apiece, a year earlier.Checking box will enable automatic data updates.

 

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