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Fall in capital markets profit drags on BMO earnings

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BMO posted lower adjusted earnings for the fourth quarter as capital markets revenue fell and loan\u002Dloss provisions increased. Read on

The bank’s adjusted earnings were $2.14 billion or $3.04 per share in the three months ending Oct. 31., down from $2.22 billion or $3.33 per share a year ago. On average, analysts had been expecting $3.09 per share. BMO also boosted its quarterly dividend by four cents to $1.43 per share, payable on Feb. 28, 2023.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

For the full fiscal 2022 year, BMO reported net income of $13.54 billion as revenues rose and an aggressive Bank of Canada rate-hiking cycle gave the bank more income through interest payments. Adjusted net income for the year was $9.04 billion, up from $8.65 billion. White added that the bank would continue to focus on its North American growth strategy by finalizing the close of the US$16.3 billion Bank of the West deal announced in December 2021.Article content

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