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BMO Financial Group Q3 net income $1,232 million

Christian Fernsby ▼ | August 26, 2020
For the third quarter ended July 31, 2020, BMO Financial Group recorded net income of $1,232 million and net income of $1,259 million on an adjusted basis.
BMO Financial Group
BMO Financial Group   Net income $1,259 million
Reported net income of $1,232 million and adjusted net income of $1,259 million were impacted by higher provisions for credit losses, which increased $748 million pre-tax, or $550 million after tax.

Topics: BMO Financial Group

"For the third quarter, we delivered very good results in a fluid environment, demonstrating the continued strength and resiliency of our diversified business model," said Darryl White, Chief Executive Officer, BMO Financial Group.

"This quarter, we continued to deliver on our commitment to expense management, a critical and appropriate lever in the current environment. Expenses declined 2% from the prior quarter and year-over-year. Operating leverage for the quarter was 5.3%."