BMO Financial Group reports decrease in third-quarter earnings per share

TORONTO — BMO Financial Group (TSX:BMO) says strong performances in its personal and commercial banking sectors helped boost profits in the third quarter even as earnings per share edged down a penny.

The bank is reporting net income of $557 million for the quarter ended July 31, up from $521 million recorded the year before.

Earnings per share slipped one cent to 97 cents per share from 98 cents posted in the same quarter of 2008.

Excluding one-time items, BMO says adjusted cash earnings per share totalled $1.05.

Quarterly revenue climbed eight per cent to $2.97 billion, while the bank’s tier one capital ratio rose to 11.71 per cent.

The bank says it is keeping its quarterly dividend fixed at 70 cents per share.