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BMLP - Dorsey Wright MLP Index ETN Due 10 Dec 2036 News Story

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Position in Universe th / 6849

UPDATE 1-Bank of Montreal beats profit expectations, as capital markets earnings jump

(Adds details of earnings)
    Feb 25 (Reuters) - Bank of Montreal  BMO.TO  beat analyst
estimates for first-quarter profit on Tuesday amid strength in
its capital markets and wealth businesses, even though earnings
fell from U.S. retail and loan-loss provisions doubled.
    Net income before one-off items rose to C$1.62 billion
($1.22 billion), or C$2.41 per share, in the three months ended
Jan. 31, from C$1.54 billion, or C$2.32 per share, a year
earlier. Analysts had expected C$1.51 billion, or C$2.37 a
    BMO's capital markets unit led the gains with a 38% jump in
adjusted net income, and wealth management followed with a 21%
rise from a year ago. 
    "Capital Markets had a strong quarter in all businesses,
demonstrating its earnings potential, with an increased
contribution from our U.S. segment resulting in 38% total net
income growth," Chief Executive Darryl White said in a
    Canadian retail banking earnings climbed 8%, but the U.S.
personal and commercial business proved the laggard with a 21%
decline in profit. 
    Total provisions for credit losses rose to C$349 million,
from C$137 million a year ago. 
    ($1 = 1.3286 Canadian dollars)

 (Reporting by Abhishek Manikandan in Bengaluru; Editing by Anil
D'Silva and Bernadette Baum)
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646 223 8780, outside the U.S. +91 80 6182 2702;))
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