The BMO Financial Group exceeded expectations with a profit of nearly 2.02 billion US dollars in the first quarter after 1.59 billion US dollars in the same period last year.
According to the bank, the net profit for Revenue for the quarter ended January 31st at $ 3.03 per diluted share, down from $ 2.37 per diluted share.
Revenue for the quarter was nearly $ 6.98 billion, compared to $ 6.75 billion -Dollars in the first quarter of last year.
Provisions for loan losses for the quarter were $ 156 million, compared to $ 349 million last year.
On an adjusted basis, BMO reported $ 3.06 each diluted stock after adjusted earnings of $ 2.41 per diluted share in the same quarter last year.
According to financial data company Refinitiv, analysts had expected adjusted earnings of $ 2.15 per share for the quarter.