BMO Financial Group reported third-quarter adjusted earnings per share of $3.96, up 22% year-over-year, with record pre-provision pretax earnings of $4.5 billion, up 13%, and announced a new normal course issuer bid for up to 25 million shares. The bank's return on equity improved to 14%, up 200 basis points, and it remains confident in achieving a 15% ROE by fiscal 2027. BMO also announced three strategic transactions to optimize its portfolio, including the sale of 138 U.S. branches, the transportation and vendor finance businesses, and Moneris Canada, which are expected to add 50 basis points to its CET1 ratio on closing. The bank's CET1 ratio stands at 13%, and it expects fourth-quarter impaired provisions to be in line with the third quarter.
Bank of MontrealBMO reported strong Q3 EPS growth, record pre-provision earnings, and announced a new buyback, all positive for the bank.
