-=Bank of Montreal (BMO) reported earnings on Tue 3 Dec 19 (b/o)
Bank of Montreal beats by CAD 0.02, beats on revs
Reports Q4 (Oct) earnings of CAD 2.43 per share, excluding non-recurring items, CAD 0.02 better than the S&P Capital IQ Consensus of CAD 2.41; revenues rose 3.3% year/year to CAD 6.09 bln vs the CAD 5.86 bln S&P Capital IQ Consensus.
Total provision for credit losses was $253 million, an increase of $78 million from the prior year. The provision for credit losses ratio was 23 basis points, compared with 18 basis points in the prior year. The provision for credit losses on impaired loans of $231 million increased $54 million from $177 million in the prior year, primarily due to higher provisions in BMO Capital Markets and our P&C businesses.
Dividend increased $0.03 to $1.06, up 6% from the prior year.