Bank of Montreal quarterly net profit slips

Wed May 29, 2013 7:47am EDT
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May 29 (Reuters) - Bank of Montreal said on Wednesday its second-quarter net profit fell 5 percent, due to lower net interest margins in its Canadian business.

BMO, Canada's fourth-largest bank, earned C$975 million, or C$1.42 a share, in the fiscal second quarter ended April 30. That compared with a year-before profit of C$1.03 billion, or C$1.51 a share.

The bank said its adjusted earnings in the period rose to C$997 million, or C$1.46 a share, up from a year-before profit of C$982 million, or C$1.44 a share.