Bank of Montreal posts lower quarterly profit as capital markets slump

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BMO set aside provisions for credit losses of $226-million in the latest quarter, compared with a release of $126-million last year.

posted a lower fourth-quarter profit on Thursday, as revenue from its capital markets business tumbled and the lender increased provisions for credit losses to brace for potential defaults in the face of a tepid economy.

Analysts had estimated the company to report a profit of $3.07 per share, according to data from Refinitiv IBES.

 

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