"As we look ahead, we're all aware of the macro headwinds facing the industry," said chief executive Darryl White on an analyst call Tuesday.
Costs related to layoffs totalled $223 million pre-tax in the quarter, though the bank did not disclose the number of employees let go. BMO also recorded $83 million in legal provisions this past quarter related to settlements with U.S. regulators. The penalties stemmed from record-keeping violations after employees used personal texts and WhatsApp to communicate with clients.
Analysts on average had expected an adjusted profit of $3.13 per share, based on estimates compiled by financial markets data firm Refinitiv.
Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What are experts saying about earnings from BMO and Scotiabank?The Bank of Montreal and the Bank of Nova Scotia have put aside more money in case their customers have trouble paying back their back loans in the months ahead.
Weiterlesen »