August 26, 2014 / 11:30 AM / in 3 years

Bank of Montreal reports stronger-than-expected profit

TORONTO (Reuters) - Bank of Montreal BMO.TO 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.

The logo for the Bank of Montreal is seen at its branch Toronto, March 5, 2013. REUTERS/Mark Blinch

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 million, up 14 percent.

(1 US dollar = 1.0962 Canadian dollar)

Reporting by Jeffrey Hodgson; Editing by Bernadette Baum

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