REFILE-Bank of Montreal profit dips, sets aside more loan-loss funds

Wed May 25, 2016 7:21am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Fixes date to May 25 from 24.)

TORONTO May 25 (Reuters) - Bank of Montreal l, Canada's fourth-biggest bank, on Wednesday set aside more funds to cover losses on bad loans and reported a decline in second-quarter profit.

The bank said provisions for credit losses rose to C$201 million ($153 million) during the quarter to Apr.30, compared with C$161 million previously.

Net income was C$973 million, down 3 percent. ($1 = 1.3114 Canadian dollars) (Reporting by Matt Scuffham; Editing by Bernadette Baum)