Bank of Montreal missed earnings expectations, reporting a rise in loan loss provisions to $906m.
Bank of Montreal (BMO) missed earnings expectations, reporting a rise in loan loss provisions to $906m, leading to a higher-than-expected ratio of impaired loans to net loans. CEO Darryl White attributed the impairments to prolonged high interest rates, economic uncertainty, and changing consumer preferences. BMO's adjusted profits for the quarter were down from last year.
August 27, 2024
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