Revenue totalled $9.27 billion, up from $7.67 billion in the same quarter last year.

The bank’s provision for credit losses amounted to $1.01 billion in its latest quarter, up from $627 million in the same quarter last year. On an adjusted basis, BMO says it earned $3.04 per share in its latest quarter, up from an adjusted profit of $2.56 per share a year earlier.

Analysts on average had expected BMO to earn an adjusted profit of $2.41 per share, according to according to LSEG Data & Analytics.

MO’s wealth management business earned $369 million in its latest quarter, up from $240 million. Wealth and asset management net income was $286 million, up 52% compared to the same quarter in 2024, primarily driven by stronger global markets and net sales, which was partially offset by higher expenses.

The bank’s wealth management segment had $406 billion in assets under administration and $451 billion in assets under management. Insurance net income was $83 million this quarter, up $30 million from last year, primarily due to favourable market movements. BMO said its Canadian personal and commercial banking business earned $894 million in its latest quarter, down from $921 million a year earlier.

Source: INVESTMENTEXECUTIVE