BMO Financial reports higher quarterly profit on reduced credit loss provisions
BMO Financial reported a rise in first-quarter profit on Wednesday as the bank reduced funds set aside for loan defaults. The Canadian economy showed resilience.
Insights:
Bank of Montreal reported a rise in its first-quarter adjusted profit for the period ended January 31, 2026. The bank's adjusted profit for the quarter rose to C$2.55 billion, up from C$2.29 billion during the same period a year earlier. This increase was primarily driven by a material reduction in provisions for credit losses, which fell to C$746 million from C$1.01 billion in the prior year.
