Bank of Montreal (BMO) Tanks 9.5% as Q2 Earnings Decline

Shares of Bank of Montreal (BMO) plunged 9.5% in response to its second-quarter fiscal 2024 (ended Apr 30) results. Adjusted earnings per share of C $2.59 declined 10.4% year over year.A significant jump in provision for credit losses and lower net interest income (NII) primarily hurt the results. However, increases in non-interest income, higher loans and deposit balance and slightly lower expenses acted as tailwinds.After considering non-recurring items, net income was C$ 1.87 billion ($1.38 billion), which ...