"The direct exposure is only 2 per cent of the lending portfolio," he said. Bank of Montreal - 3Q net profit of $1.2bn, up 6% YoY, beating estimates, helped by higher contributions from personal and commercial banking along with wealth management. The bank said it expects to earn a record $US1.1bn in the first half of this year, driven largely by its investment in U.S. mortgage-backed securities (MBS) assets.
Bank of Montreal - 3Q net profit of $1.2bn, up 6% YoY, beating estimates, helped by higher contributions from personal and commercial banking along with wealth management. The bank said it expects to earn a record $US1.1bn in the first half of this year, driven largely by its investment in U.S. mortgage-backed securities (MBS) assets.