Bank of Montreal profit rises on retail banking

TORONTO Tue Feb 25, 2014 7:13am EST

TORONTO Feb 25 (Reuters) - Bank of Montreal, Canada's fourth-largest bank, said on Tuesday its quarterly profit rose 2 percent as stronger Canadian retail banking income and lower loan loss provisions more than made up for a weaker performance at its U.S. division.

Net profit for the first quarter ended Jan. 31 was C$1.06 billion ($957.59 million), or C$1.58 a share, up from C$1.04 billion, or C$1.51 a share, a year earlier.

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