BMO posted net income of $2.3 billion in the third quarter, up 25 per cent from 1.9 billion last year, while Scotiabank reported profit of $2.5 billion, 32 per cent higher than the previous year. That was about 11 per cent higher than analysts had expected for BMO and 9.5 per cent more than predicted for Scotiabank, according to data from S&P Global Market Intelligence. (The Logic)

Talking point: BMO and Scotiabank are the first of the Big Six banks to report earnings this week. Both banks put less money aside for bad loans than they did last year—$797 million, down from $906 million, for BMO, and $1.04 billion, down from $1.05 billion, for Scotiabank. Lower provisions helped their bottom lines, and suggest the banks see less economic turbulence ahead. In a call with analysts, Scotiabank chief risk officer Phil Thomas said uncertainty nonetheless remains thanks to ongoing trade negotiations with the U.S.