BMO reveals Q3 financials | Canadian Mortgage Professional
Tuesday marked the first day of the Big Six bank’s quarterly earnings announcement, with Scotiabank also revealing its third-quarter results. Toronto-Dominion (TD) Bank, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and National Bank of Canada (NBC) are all scheduled to release their earnings in the coming days.
Financial markets will be closely watching provisions for credit losses at Canada’s banking giants as economic uncertainty continues – and BMO set aside less money for souring loans compared with 2025’s third quarter.
Total PCLs fell to $722 million from $797 million a year earlier, the bank said. Year-to-date, BMO’s provision for credit losses has declined to $2.2 billion from $2.86 billion over the same period in 2025.
BMO’s domestic personal and commercial banking division posted adjusted net income of $983 million, a 15% year-over-year jump, driven by a 6% increase in revenue and lower PCLs.
Net interest margin expansion contributed significantly to revenue growth alongside gains in non-interest income.
