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Bank of Montreal quarterly profit drops 30%

Credit: REUTERS/CHRIS WATTIE

Bank of Montreal reported a nearly 30% drop in quarterly profit on Tuesday, hit by a restructuring charge.

Dec 3 (Reuters) - Bank of Montreal BMO.TO reported a nearly 30% drop in quarterly profit on Tuesday, hit by a restructuring charge.

Canada's fourth-largest lender said net income fell to C$1.19 billion ($894.67 million), or C$1.78 per share, in the fourth quarter ended Oct. 31, from C$1.69 billion, or C$2.57 per share, a year earlier. https://reut.rs/2DI7ge5

On an adjusted basis, the company earned C$2.43 per share.

($1 = 1.3301 Canadian dollars)

(Reporting by C Nivedita in Bengaluru; Editing by Bernard Orr)

((C.Nivedita@thomsonreuters.com; within the U.S. +1 646 223 8780, outside the U.S. +91 80 6749 9246;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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