BMO profit up 14% in the modest quarter for banks (CBC)

Bank of Montreal said fourth-quarter profit jumped 14 percent recovery one quarter modest for the largest banks in the country shown mixed results.

BMO chart stock of 3 months. (CBC)

The Bank of the fourth-most country goods said Tuesday that he won 739 million dollars, or $1.24 per share for the quarter, up $ 647 million, or $1.11 per share, during the same period a year ago. Revenues increased by eight percent to 3.23 billion.

Analysts expect, on average, $1.23 a share and revenues of $ 3.08 billion.

Provisions for credit in the quarter losses were 253 million from $ 133 million in the previous year, then to return on equity rose 15.1%, from 14% a year ago.

However, the bank kept unchanged dividend at 70 cents per share.

For the year, the Bank said she won 2.81 billion dollars, or $4.75 per share.

Barclays Capital analyst John Aiken said that provisions of the Bank for doubtful accounts are a disappointment for the quarter, but not a major concern.

"Even if BMO has undergone similar fresh growth as peers, it was lower than the group, and the Bank was able to compensate with revenue growth," Aiken wrote in a note to clients.

"Markets financial and private client had quarters of stand-out and although retail banking on both sides of the border [stable], they have done both decline report sequential modest gains."

The five largest banks earned a combined benefit of $ 4.45 billion in the fourth quarter - slightly higher than in the same period last year - as weakness of corporate finance and trade eclipsed revenues banking consumer resistance.

While profits were above $ 4.44 billion in the fourth quarter of last year, the overall results were further evidence that there will be some time before the banks back to advantage blockbuster growth they enjoyed before the recession.

One of the most stellar performers was raised its dividend, although it is regarded as the sixth largest bank in the country and is considerably smaller than its big brothers Canada National Bank.

The Royal Bank of the Canada has been widely considered the most important underperformer as he disappointed investors with its quarterly report and analyst interrupted by a wide margin expectations. TD Bank also fell average estimates.

(With files from the Canadian Press)