BMO had a total profit of $1.5 billion over three months ended Jan. 31, 2019. That’s an increase of 55 per cent from last year, though it dropped from $1.7 billion in the previous quarter. Scotiabank slipped to $2.2 billion in profit this quarter, compared to $2.3 billion last year. BMO CEO Darryl White identified the U.S. as a key growth market in a Tuesday morning conference call. Earnings at Scotiabank’s Canadian banking unit were down three per cent. (Financial Post)
Skip to content
BMO had a total profit of $1.5 billion over three months ended Jan. 31, 2019. That’s an increase of 55 per cent from last year, though it dropped from $1.7 billion in the previous quarter. Scotiabank slipped to $2.2 billion in profit this quarter, compared to $2.3 billion last year. BMO CEO Darryl White identified the U.S. as a key growth market in a Tuesday morning conference call. Earnings at Scotiabank’s Canadian banking unit were down three per cent. (Financial Post)
Talking point: Both banks said their latest earnings got a big boost from international markets; a flat domestic market and volatile stocks caused them to slip back at home. Scotiabank’s international earnings grew by 17 per cent to $782 million, partially due to acquisitions in Latin America. However, it’s still slimming down in international markets—also on Tuesday, it announced it would be entering a deal to reduce its 49 per cent stake in Thailand-based TBank. And, CEO Brian Porter said the company will continue to make more of its profits at home than overseas.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Carney says trade talks to heat up after Trump’s latest tariff threats
Briefing
Sleep Country plots U.S. expansion after winning bid to buy hundreds of Sleep Number stores
Horizon Aircraft sells 5 vertical takeoff planes to Australia’s V-Star, with more on order
Bombardier shares hit highest level in 24 years after deal with Saudi firm
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
