BMO earnings fell in the first quarter, but still beat expectations. Find out more
Play Video
The discrepancy between the earnings comes from a pre-tax loss of $2.01 billion from rising interest rates and the management between the announcement and the closing of the US$16.3 billion Bank of the West deal announced in It’s a mark-to-market loss that the bank will treat as an adjusting item comprising about $1.63 billion recorded in non-interest revenue. Since the announcement of the deal, the U.S. Federal Reserve raised the federal funds rate a cumulative 4.5 per cent.
The Canadian personal and commercial banking segment’s adjusted profit slipped two per cent year-over-year to $980 million despite rising revenue as higher expenses and provisions for credit losses grew. The U.S. segment’s adjusted profit rose three per cent to $699 million on a stronger U.S. dollar.Article content
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMO tops estimates as traders reap benefit of market volatility - BNN BloombergBMO Financial reported a first-quarter profit of $247 million, down from $2.93 billion in the same quarter a year earlier, as it took a one-time charge related to its acquisition of Bank of the West.
Read more »
Disc golf devotees find community through sport in Riverview, N.B. - New Brunswick | Globalnews.caCDT Disc Golf President Blake Reynolds said there's been a huge uptake in interest in the sport since they opened the course in October of 2021.
Read more »
The grandmothers: Métis cultural treasures find their way homeAs museums come under increasing pressure to repatriate Indigenous cultural items, Métis author Gregory Scofield has gone to rescue them himself.
Read more »
Argentine fishermen find remains of missing man inside sharkThe remains of a man who had disappeared in southern Argentina earlier this month appear to have been found inside a shark.
Read more »
Vancouver police find man wanted on gun chargesAaron Scott Hastie, 39, surrenders to police after five\u002Dhour standoff
Read more »
Argentine fishermen find remains of missing man inside sharkThe remains of a man who had disappeared in southern Argentina earlier this month appear to have been found inside a shark.
Read more »