BMO reports $1.49B of net income in 1st quarter, up 39%

The Bank of Montreal had net income of $1.49 billion during its first quarter, up 39 per cent from a year ago, according to results posted early Tuesday.

During the same period last year, BMO had $1.07 billion of quarterly profit.

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The earnings amounted to $2.22 per share, up from $1.58 per share during the first quarter of 2016.

The bank also reported $5.41 billion of revenue, compared with $5.08 billion a year ago.

On an adjusted basis BMO earned $1.53 billion, or $2.28 per share, up from $1.18 billion, or $1.75 per share, a year ago.