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Company News

Bank of Montreal quarterly profit rises slightly

Aug 27 (Reuters) - Bank of Montreal reported a 1.3% rise in quarterly profit on Tuesday, as higher provisions for credit losses offset strength in its capital markets business.

Canada’s fourth-largest lender said net income rose to C$1.56 billion, or C$2.34 per share, in the third quarter ended July 31, from C$1.54 billion, or C$2.31 per share, a year earlier.

On an adjusted basis, the company earned C$2.38 per share. (Reporting by C Nivedita in Bengaluru; Editing by Bernard Orr)

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