UPDATE 1-Bank of Montreal reports stronger-than-expected profit

Tue Aug 26, 2014 7:46am EDT
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TORONTO Aug 26 (Reuters) - Bank of Montreal reported stronger-than-expected third-quarter profit on Tuesday, helped by gains at its Canadian and U.S. personal and commercial banking units and higher revenue at its capital markets arm.

Net profit at Canada's fourth-largest bank was C$1.13 billion ($1.03 billion), or C$1.67 a share, for the third quarter ended July 31, compared with C$1.12 billion, or C$1.66 a share, a year earlier.

Adjusted earnings were C$1.73 a share. Analysts had expected C$1.66 a share.

BMO said profit at its Canadian retail bank rose 8 percent to C$526 million. Profit at its U.S. personal and commercial banking operation rose 2 percent.

Its BMO Capital Markets unit earned C$306 mllion, up 14 percent.

(1 US dollar = 1.0962 Canadian dollar) (Reporting by Jeffrey Hodgson; Editing by Bernadette Baum)