Earnings fell to an adjusted $3.09 per share from last year in the three months ending July 31. Analysts had been expecting earnings of $3.15 per share on average.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
BMO’s personal and commercial banking segment grew 17 per cent year over year to $965 million, driven by a 13-per-cent increase in revenue from higher net interest income due to higher margins and lower credit loss provisions.Article content Net income in the bank’s U.S. segment grew three per cent from the prior year to $568 million amid a boost from a stronger U.S. dollar.
However, BMO’s wealth management segment took a $55-million hit on choppy trading this year, bringing net income to $324 million. Its traditional wealth business was weighed down by higher expenses, and net income fell 12 per cent year over year to $263 million.