BMO Misses on Capital Markets, Higher Loan-Loss Provisions
- ‘There is no way to put a positive spin’ on results: analyst
- Impaired commercial real estate loans continue to rise
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Bank of Montreal missed analysts’ estimates as it grappled with weak capital-markets revenue and reported an increase in loan-loss provisions.
The Toronto-based bank earned C$2.56 per share on an adjusted basis in the fiscal first quarter, it said in a statement Tuesday, falling short of the C$3.02 average estimate of analysts in a Bloomberg survey.