Bank of Montreal, the first Canadian bank to report fourth-quarter results, said profit rose 16 percent to its highest in more than two years on increased business lending and lower provisions for bad loans.
Net income for the quarter ended Oct. 31 climbed to C$647 million ($610 million), or C$1.11 a share, from C$560 million, or C$1.06, a year earlier, the Toronto-based bank said today in a statement.
