Stock news for investors: large banks see the profit growth of the third quarter – Moneysense

The bank says it has yielded a net income of $ 2.33 billion or $ 3.14 per watered share for the quarter that ended on July 31. The result for the quarter compared to a profit of $ 1.87 billion or $ 2.48 per watered share in the same quarter last year.

Turnover for the quarter in the quarter was $ 8.99 billion, an increase of $ 8.19 billion a year earlier.

The determination of BMO for credit losses was $ 797 million for the quarter, compared to $ 906 million a year earlier.

On an adapted basis, BMO says that it earned $ 3.23 per watered share in the last quarter, an increase in an adapted profit of $ 2.64 a year earlier.

The average estimate of the analysts was according to the $ 2.95 profit per share, according to LSEG Data & Analytics.

“BMO delivered a quarter of strong profit growth, with solid turnover performance and good cost management,” said BMO -chief Executive Darryl White in a statement.

“We continue to invest in stimulating sustainable growth in our companies, including our recently announced acquisition of Burgundy Asset Management Ltd., the addition of talent and promoting digital and AI options to offer a differentiated customer experience.”

The bank said that her Canadian Personal and Commercial Banking Business earned $ 867 million in its last quarter, at $ 914 million a year ago, because higher income was more than compensated by higher costs and a higher provision for credit losses for the quarter.

Article continues advertisement

In the US, BMO said that her personal and commercial banking activities earned $ 709 million, an increase of $ 470 million in the same quarter last year.

The bank said that her asset management company earned $ 436 million, an increase of $ 362 million a year ago, while BMOs earned Capital Markets Business $ 438 million, an increase of $ 389 million in the same quarter last year.

BMOs Corporate Services Group reported a net loss of $ 120 million, compared to reported net loss of $ 270 million a year earlier.

Return to menu

Scotiabank reports $ 2.53 billion the net result of the third quarter, an increase of $ 1.91 billion a year ago

The Bank of Nova Scotia reported a third -quarter profit of $ 2.53 billion, an increase of $ 1.91 billion a year ago.

The bank says that the profit $ 1.84 per watered share for the quarter ended on July 31, an increase of $ 1.41 per watered share in the same period a year ago.

Turnover was $ 9.49 billion for the quarter, an increase of $ 8.36 billion in the same quarter last year.

The determination of Scotiabank for credit losses for the quarter was $ 1.04 billion, a decrease of $ 1.05 billion a year earlier.