Bank Of Montreal (TSE:BMO) has released an update.
BMO Financial Group reported a first-quarter net income of $1,292 million for 2024, a substantial increase from $133 million in the previous year, although adjusted net income saw a slight decline from $2,158 million to $1,893 million. The reported earnings per share (EPS) rose to $1.73 from $0.14, and the bank has successfully integrated Bank of the West, achieving significant cost synergies and bolstering its capital position with a CET1 ratio of 12.8%. Despite a challenging economic environment, BMO showcased the resilience of its diversified businesses and is focused on long-term shareholder value through strategic initiatives and robust risk management.
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