Bank Of Montreal (TSE:BMO) has released an update.
BMO Financial Group has announced a notable increase in net income to $1,866 million for the second quarter of 2024, up from $1,029 million in the previous year, with earnings per share rising to $2.36 from $1.26. Despite a challenging economic environment with high interest rates and a slowing economy, the bank has shown resilience with a strong CET1 ratio of 13.1% and robust growth in personal, commercial banking, and wealth businesses. Additionally, they have raised their quarterly dividend by 5% to $1.55 per share, signaling confidence in their financial position.
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