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Bank of Montreal profit jumps 33%

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Bank of Montreal reported a 33 per cent rise in quarterly profit on Tuesday, as strength in its wealth management and capital markets businesses helped offset higher loan-loss provisions due to the COVID-19 pandemic.

Net income attributable to equity holders of the bank rose to $1.58 billion, or $2.37 per share, in the fourth quarter, from $1.19 billion, or $1.78 per share, a year earlier.

More to come …

© Thomson Reuters 2020

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