December 1, 2015 / 12:11 PM / 3 years ago

Bank of Montreal posts higher quarterly profit on U.S. unit growth

TORONTO, Dec 1 (Reuters) - Bank of Montreal, Canada’s fourth largest bank, reported a higher fourth-quarter profit on Tuesday, boosted by growth in its U.S. personal and commercial banking unit.

Net income for the quarter ended October 31 was C$1.21 billion, or C$1.83 per share, compared with C$1.07 billion, or C$1.56 per share, in the fourth quarter of 2014. Excluding items, earnings were C$1.90 per share.

Analysts on average had expected earnings of C$1.74 a share, according to Thomson Reuters I/B/E/S. (Reporting by John Tilak)

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