BMO Q1 profit rises to 15 billion despite challenging revenue environment

Companies in this story: (TSX: BMO)The Canadian Press TORONTO — The Bank of Montreal beat expectations with a first-quarter profit of $1.5 billion, up from $973 million during the same period a year earlier.The profit amounted to $2.28 per share for the three-months ended Jan. 31, up from $1.43 per share during the same period a year earlier when it recorded a one-time charge of $425 million related to U.S. tax changes.On an adjusted basis, the profit amounted to $1.54 billion for the quarter or $2.32 per diluted share, compared with $1.42 billion or $2.12 during the same period a year earlier.Analysts had expected a profit of $2.23 per share, according to those surveyed by Thomson Reuters Eikon.While Canada’s fourth-largest lender saw strong results from its U.S. personal and commercial banking division and relatively flat earnings from its domestic retail banking arm, BMO saw a drop in profit from its wealth management and capital markets divisions amid “weaker global market conditions.”BMO chief executive Darryl White says the bank’s North American personal and commercial banking businesses performed “very well” while its market-sensitive businesses were impacted by the “challenging revenue environment” earlier in the quarter.“BMO’s good performance this quarter reflects the benefits of our diversified and attractive business mix which continues to deliver sustainable growth, with adjusted earnings per share up 10 per cent from last year,” White said in a statement.“We are well-positioned to build on our performance through the year.” read more

NEW LOOK Croatia without Kopljar Cupic Karacic and Brozovic in France

Croatia will start a new Olympic cycle with some new faces in the team. Zeljko Babic who changed his decision about leaving hot Croatian bench, made some changes in the team, who will stay without a help of players like Ivan Cupic, Igor Karacic, Ilija Brozovic or Marko Kopljar.Ivan Sliskovic won’t be also a part of the team due mononucleosis which keep him out of handball since Rio.Croatia will stay preparation for World Championship 2017 in France on December 26, while the only friendly matches will play against Montenegro and Tunisia.Croatian 16 for WCh 2017:Filip Ivić – HC Vive Tauron KielceIvan Stevanović – RK PPD ZagrebIvan Pešić – HC Meshkov BrestJerko Matulić – HC NantesJosip Božić-Pavletić – RK NEXEManuel Štrlek – HC Vive Tauron KielceLovro Mihić – HC Wisla PlockTin Kontrec – RK PPD ZagrebMarko Mamić – HC DunqerkeStipe Mandalinić – RK PPD ZagrebSandro Obranović – HC MOL Pick SzegedLovro Jotić – RK PPD ZagrebLuka Cindrić – HC VardarLuka Stepančić – HC Paris Saint-GermainLuka Šebetić – RK PPD ZagrebŠime Ivić – HC Wisla Plock ← Previous Story Norway first semi-finalists – Denmark VS Romania for the second! Next Story → Petkovic to replace Richardsson in Fuchse Berlin read more