TORONTO — BMO Financial Group reported its second-quarter profit rose more than 30 per cent compared with a year ago and raised its quarterly dividend.
The bank said Wednesday it will now pay shareholders a quarterly dividend of $1.71 per share, up from $1.67 per share.
BMO says it earned $2.63 billion or $3.53 per diluted share for the quarter ended April 30, up from $1.96 billion or $2.50 per diluted share a year earlier.
Revenue totalled $9.57 billion for the quarter, up from $8.68 billion in the same quarter last year, while the bank’s provision for credit losses amounted to $739 million for its latest quarter, down from $1.05 billion a year ago.
On an adjusted basis, BMO says it earned $3.67 per diluted share in its latest quarter, up from $2.62 per diluted share a year ago.
Analysts on average had expected an adjusted profit of $3.45 per share, according to LSEG Data & Analytics.
“We once again strengthened ROE and delivered strong EPS growth, driven by robust fee revenue across capital markets, wealth management and treasury and payments,” BMO chief executive Darryl White said in a statement.
“We delivered solid sequential commercial banking loan growth in both Canada and the United States, reflecting improving client activity and the strength of our bankers.”
BMO reported its Canadian personal and commercial banking earned $884 million in its latest quarter, up from $764 million a year ago, helped by higher revenue, as well as a lower provision for credit losses, partially offset by higher expenses.
U.S. banking operations earned $790 million in the quarter, up from $601 million in the same quarter last year.
BMO’s wealth management business earned $428 million, up from $320 million a year ago, while its capital markets operations earned $638 million, up from $434 million in the same quarter last year.
This report by The Canadian Press was first published May 27, 2026.
