Scotiabank (TSX:BNS)(NYSE:BNS) and Bank of Montreal (TSX:BMO)(NYSE:BMO) kicked off Canadian big bank’s second-quarter results on Wednesday with better-than-expected earnings, which were helped by lower provisions for credit losses and continued loan growth.
Mortgage growth and credit quality remained strong for both banks, helping earnings remain strong, even as financial markets retreated amid recent market turmoil.
Bank of MontrealBMO, Canada’s fourth-largest bank, reported net income of $7,689 million ($7.13 per share), an increase from $3,320 million ($1.91 per share). Adjusted net income came in at $4,771 ($3.23 per share), up from $4,133 million ($3.13 ...
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Scotiabank and BMO Beat Earnings Forecasts, Hike Dividends