What Happened
BMO Financial Group announced a first-quarter profit of $2.49 billion, an increase from $2.14 billion in the same period last year. The bank reported earnings of $3.39 per diluted share for the quarter ending January 31, up from $2.83 per diluted share a year earlier. Revenue for the quarter reached $9.82 billion, compared to $9.27 billion in the previous year. Additionally, provisions for credit losses decreased to $746 million from $1.01 billion.
Why It Matters
The results exceeded analysts’ expectations, who had anticipated an adjusted profit of $3.20 per share, according to LSEG Data & Analytics. BMO’s CEO, Darryl White, highlighted the bank’s strong start to the year, noting record revenue across all operating segments and significant fee growth in market-driven businesses. The Canadian personal and commercial banking sector contributed $948 million in earnings, while U.S. banking operations reported $742 million, reflecting a robust performance in both markets.
What’s Next
In addition to the strong earnings report, BMO’s Board of Directors declared a quarterly dividend of $1.67 per share on common shares, maintaining the same rate as the previous quarter. This dividend is payable on May 26, 2026, to shareholders of record on April 29, 2026. Institutional investors, including TD Asset Management Inc., have also increased their stakes in BMO, indicating growing confidence in the bank’s performance and future prospects.
