For the third quarter ended on 31 July 2013, its revenues stood at C$4.05bn, with an increase of 4% against C$3.87bn during the corresponding period earlier year.
BMO Financial Group president and CEO Bill Downe said, "BMO’s third quarter results confirm the strength of the bank’s performance to date in 2013 and reflect the benefits of our disciplined growth strategy, which is well diversified by geography and business mix."
P&C Canada net income stood at C$497m, up by 9% compared to C$459m, while revenue increased by 4% year over year to $1.62bn, backed by higher balance and fee volumes across most products, partially offset by the impact of lower net interest margin.
P&C US net income was $147m, with an increase of 7% from $137m during the third quarter a year ago, while revenues tumbled by 5%.
Private Client Group (PCG) produced strong results for the quarter, as its net income grew by twice to C$218m against a year ago.
Net income in BMO Capital Markets was C$280m, up by 12% compared to the year ago quarter, driven by good performance across our diversified businesses in general, with increases in trading revenue and equity underwriting.
Corporate Services net loss for the quarter stood at C$11m, compared with net income of C$13m a year ago.
