May 23, 2012 / 11:43 AM / 5 years ago

Bank of Montreal profit rises on U.S. acquisition

TORONTO, May 23 (Reuters) - Bank of Montreal’s quarterly profit rose by a stronger-than-expected 27 percent, helped by the 2011 acquisition of U.S. lender Marshall & Ilsley, Canada’s No. 4 bank said on Wednesday.

BMO earned C$1.03 billion ($1.01 billion), or C$1.51 a share, in the fiscal second quarter ended April 30. That compared with a year-before profit of C$813 million, or C$1.32.

On an adjusted basis, the bank earned C$1.44 a share. Analysts had expected, on average, a profit of C$1.36 a share, according to Thomson Reuters I/B/E/S.

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