BMO posts big miss on earnings expectations as bad loans weigh

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TORONTO — BMO Financial Group significantly missed analyst earnings expectations as the money it set aside for potential loan losses jumped. The bank on Thursday reported a fourth-quarter profit of $2.30 billion, up from last year thanks to a $1.

TORONTO — BMO Financial Group significantly missed analyst earnings expectations as the money it set aside for potential loan losses jumped.

The earnings drop came as its provisions for credit losses surged to $1.52 billion from $446 million a year earlier. The shaky loans helped lead to adjusted earnings of $1.90 per diluted share in its latest quarter, down from an adjusted profit of $2.93 per diluted share a year ago.

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