BMO misses as higher loan-loss provisions dent U.S. operations

Bank of Montreal missed estimates as it once again put aside more money than analysts expected for potentially bad loans, with the provisions dragging down its U.S. operations.

Rob Wessel, managing partner at Hamilton ETFs, joins BNN Bloomberg to preview results for Canadian banks.

The Toronto-based firm earned $2.64 per share on an adjusted basis in the fiscal third quarter, it said in a statement Tuesday, falling short of the $2.75 average estimate of analysts in a Bloomberg survey. Provisions for credit losses totaled $906 million for the three months through the end of July, more than the $745 million analysts had forecast.

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