The bank said second-quarter profit fell 2.6 percent as soured oil-and-gas loans soared and the firm took a restructuring charge. There were 46,166 full-time equivalent employees at the bank (TSX:BMO) as of the second quarter, a decline of 616 employees from the previous quarter. The lender raised its dividend 2.4 percent to 86 cents a share. The Bank of Montreal's second quarter profit fell to $973 million, down three per cent from a year ago, as it took a restructuring charge and set aside more money for bad loans. The lender says it will trim its head count by an additional four per cent, which amounts to roughly 1,846 positions.

Source: thestar May 25, 2016 14:36 UTC