BMO reported a fourth-quarter profit of $2.3 billion, or $2.94 per share, a significant drop from the previous year's $1.71 billion, missing analysts' expectations by a considerable margin due to increased provisions for potential loan defaults.
fourth-quarter profit dropped and missed analysts’ estimates by a wide margin as the lender boosted provisions for loans that could default.
Adjusted to exclude certain items, the bank said it earned $1.90 per share. That fell below the $2.41 per share analysts expected, according to London Stock Exchange Group. “Our overall results were impacted by elevated provisions for credit losses, and we expect quarterly provisions to moderate through 2025 as the business environment improves.”
Profit from the bank’s U.S. arm fell 57 per cent at $256-million as revenue edged lower and provisions rose, primarily for loans in commercial banking.
BMO Fourth-Quarter Profit Loan Defaults Analyst Estimates Elevated Provisions
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