EU and US could reach trade deal this weekend - Reuters
TORONTO - On Wednesday, Bank of Montreal (NYSE:BMO) reported second quarter fiscal 2025 earnings that beat analyst expectations, while revenue came in slightly below estimates.
The bank’s stock edged up 0.04% in pre-market trading following the results.
BMO reported adjusted earnings per share of C$2.62, surpassing the analyst consensus of C$2.50. Revenue for the quarter was C$8.68 billion, just shy of the C$8.77 billion analysts were expecting.
Net income rose to C$1.96 billion from C$1.87 billion in the same quarter last year. The bank’s provision for credit losses increased to C$1.05 billion from C$705 million a year ago.
"This quarter, we delivered strong revenue and pre-provision, pre-tax earnings growth across each operating group and ongoing positive operating leverage," said Darryl White, Chief Executive Officer of BMO Financial Group.
The bank’s Common Equity Tier 1 ratio, a key measure of financial strength, stood at 13.5% at quarter-end, down from 13.6% in the previous quarter.
BMO also announced a 5% increase to its quarterly dividend to C$1.63 per share.
The bank’s rising loan loss provisions may also be a point of concern as economic uncertainties persist.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.