BMO Financial Group reported a third-quarter profit of $1.75 billion, down from $2.33 billion a year earlier, as it took a charge related to the sale of its transportation and vendor finance businesses. The bank said Tuesday the profit amounted to $2.38 per diluted share for the quarter which ended July 31, down from a profit of $3.14 in the same quarter last year. On an adjusted basis, BMO says it earned $3.96 per diluted share in its latest quarter, up from an adjusted profit of $3.23 per diluted share a year ago. Revenue for the quarter totalled $9.90 billion, up from $8.99 billion a year earlier. BMO’s provision for credit losses amounted to $722 million, down from $797 a year ago. Analysts on average had expected an adjusted profit of $3.76 per share and revenue of $9.75 billion, according to LSEG Data & Analytics. “BMO delivered another strong quarter, driven by disciplined execution against the commitments we made at our March investor day to elevate ROE and accelerate growth,” CEO Darryl White said in a statement. “We continue to reallocate and deploy capital to areas positioned to deliver sustainable and long-term value for our shareholders.” BMO’s Canadian personal and commercial banking business earned $980 million, up from $849 million in the same quarter last year, helped by an increase in revenue and a lower provision for credit losses, partially offset by higher expenses. Meanwhile, BMO’s U.S. banking business earned $868 million, up from $767 million a year ago. BMO’s wealth management business earned $408 million, up from $392 million in the same quarter last year, while its capital markets business earned $645 million, up from $442 million a year ago. This report by The Canadian Press was first published Aug. 25, 2026.
