Bank of Montreal reported strong adjusted third-quarter results, with adjusted earnings per share rising 22% year over year to C$3.96 and adjusted net income reaching a record C$2.9 billion. Reported results were reduced by a C$973 million charge tied largely to planned business divestitures. Revenue increased 11%, while Wealth Management net income rose 22% and Capital Markets net income surged 45%. The bank's CET1 ratio held at 13%, with planned asset sales expected to add roughly 50 basis points, and it proposed repurchasing up to 25 million shares.
Bank of MontrealRecord adjusted net income and EPS growth, with planned buyback.
Wealth Management Inc