February 26, 2019 / 11:58 AM / a month ago

Bank of Montreal posts 10 percent rise in quarterly earnings

A Bank of Montreal (BMO) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

TORONTO (Reuters) - Bank of Montreal on Tuesday reported a 10 percent increase in first quarter earnings, benefiting from a strong performance at its personal & commercial banking business in the United States.

Canada’s fourth-biggest lender said earnings per share, excluding special items, rose to C$2.32, in the quarter to Jan. 31. Analysts had, on average, forecast earnings of C$2.25, according to IBES data from Refinitiv.

Reporting by Matt Scuffham, editing by Louise Heavens

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