Powered by

BMO's push in U.S. lending to face growing competition

Dec 05, 2018 - The Globe and Mail (Canada)

Bank of Montreal's personal and commercial banking profits surged in the United States over the past fiscal year, but the uncertainty of a repeat performance is clouding the lender's outlook.

Similar to rivals Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, BMO operates a sizable bank in the United States that focuses on traditional lending.

After years of underwhelming earnings, the Chicago-based unit saw profits jump 35 per cent, to $1.4-billion, in the fiscal year th...