Bank of Montreal quarterly profit rises on higher interest income

(Reuters) – Bank of Montreal’s second-quarter profit jumped as higher interest rates shored up the lender’s net interest income, the Canadian bank said on Wednesday.

Net income excluding one-off items rose to C$2.22 billion ($1.65 billion), or C$2.93 per share, for the three months ended April 30, compared with C$2.19 billion, or C$3.23 a share, a year earlier

($1 = 1.3372 Canadian dollars)

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Vinay Dwivedi)

Reuters

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