More on BMO quarterly results

|By:, SA News Editor

FQ3 adjusted net income of $1.162B or $1.73 per share up 4% from a year ago.

Canadian P&C adjusted net income of $528M up 8%, on revenues higher by 6%. Loan growth of 7%; deposit growth of 9%; expenses higher by 4%.

U.S. P&C adjusted net income of $158M up 1%, with the size of the core C&I portfolio up 18%.

Wealth Management adjusted net income of $212M down 4%. Adjusted net income in traditional wealth of $164M up 27%, with about 60% of the increase coming from the F&C purchase. Adjusted net income in insurance of $48M down 48% thanks to a $22M charge from unfavorable movements (down) in interest rates (last year rates provided a $42M benefit).

BMO Capital Markets net income of $306M up 14%.

Dividend remains at C$0.78 per share.

Conference call at 2 ET

BMO flat premarket