BMO Reports Solid Q4 2021 Results Boosted by PCL Recovery
The Bank of Montreal reported Q4 2021 net income of $2.2 billion, down 5% from the $2.3 billion earned in the linked quarter. While quarter over quarter earnings were lower, they still equated to a strong return on equity of 16.0%. The lower quarterly earnings were driven by a decline in revenues and an increase in expenses partially offset by a larger provision for credit losses recovery.
Bank of Montreal is a financial services organization. Co. provides a range of retail banking, wealth management and investment banking products and services. Co. serves its clients through three operating groups: Personal and Commercial Banking, which provides financial services to personal and commercial customers; Private Client Group, which provides wealth management products and services to individuals and select institutional segments; and BMO Capital Markets, which provides clients financial and capital markets services to corporate, institutional and government clients.
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