August 26, 2008 / 11:40 AM / 9 years ago

Bank of Montreal quarterly profit tumbles 21 pct

TORONTO, Aug 26 (Reuters) - Bank of Montreal (BMO.TO) said on Tuesday its net profit fell 21 percent, as provisions for credit losses surged and it took charges related to the "capital markets environment."

Bank of Montreal, Canada's fourth largest bank, earned C$520 million ($495 million), or 98 Canadian cents a share, in the third quarter ended July 31, down from C$660 million, or C$1.28 a share, in the same 2007 period, when the bank took a big commodities-trading loss. ($1=$1.05 Canadian) (Reporting by Lynne Olver; Editing by Scott Anderson)

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