Profits dip as BMO and Scotiabank set aside hundreds of millions more to cover bad loans | CBC News

Bank of Montreal and Scotiabank posted quarterly results before stock markets opened on Wednesday, and while the exact numbers differed, they shared some worrisome themes.

The bank set aside $709 million during the quarter. In the same period a year ago, its provisions for credit losses were only $219 million.It was a similar story at the Bank of Montreal, where the bank set aside more than $1 billion for bad loans. That's way up from the $50 million it recorded the same time a year ago.

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