BMO Bank of Montreal beats estimates with big increase in Q4, 2012 profit

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TORONTO - The Bank of Montreal (TSX:BMO) has reported a big increase in quarterly and annual profit, beating analyst estimates.

For the fourth quarter ended Oct. 31, BMO had a $1.08-billion profit in the fourth quarter, a 41 per cent increase over the same time last year.

That amounted to $1.59 per share of net earnings before adjustments.

The bank's adjusted earnings amounted to $1.65 per share — 22 cents a share above the consensus analyst estimate.

The quarter brought Bank of Montreal's total net income for the 2012 financial year to $4.19 billion, up 35 per cent from last year.

Organizations: Bank of Montreal, BMO, TSX

Geographic location: TORONTO

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