The Bank of Montreal beat expectations with a first-quarter profit of $1.5 billion, up from $973 million during the same period a year earlier. On an adjusted basis, the profit amounted to $1.54 billion for the quarter or $2.32 per diluted share, compared with $1.42 billion or $2.12 during the same period a year earlier. Analysts had expected a profit of $2.23 per share, according to those surveyed by Thomson Reuters Eikon. While Canada's fourth-largest lender saw strong results from its U.S. personal and commercial banking division and relatively flat earnings from its domestic retail banking arm, BMO saw a drop in profit from its wealth management and capital markets divisions amid "weaker global market conditions." BMO chief executive Darryl White says the bank's North American personal and commercial banking businesses performed "very well" while its market-sensitive businesses were impacted by the "challenging revenue environment" earlier in the quarter.

Source: CBC News February 26, 2019 11:37 UTC