Bank of Montreal’s Canadian personal and commercial (P&C) banking division registered a net income of C$502m for the first quarter ended 31 January 2015, a rise of C$17m or 4% compared to the previous year period.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Adjusted net income for the unit increased C$17m or 4% to C$503m versus the same period a year ago. The rise was mainly attributed to higher revenue and lower provisions for credit losses, partly offset by higher expenses.

Revenue soared C$50m or 3% year over year, owing to higher balance and fee volumes across most products, partially offset by lower net interest margin.

Expenses were up C$45m or 6% highlighting continued investment in the business.

Loan growth for personal banking was 3%, and deposit growth was 8%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Overall, the bank’s net income was C$1.0bn for the first quarter of 2015, a drop of C$61m or 6% compared to the year ago quarter.