Canada’s biggest banking institutions was able to ride a robust wave of capital market activity during this latest quarter, which offset weaker results in key divisions. Canada’s fourth biggest lender by assets Bank of Montreal, stated Tuesday that their capital markets unit was able to record a profit margin of 306M Canadian dollars or 279 million U.S. dollars in the third quarter of the fiscal year which increased from 14% in the past year. The increase was due mainly because of a big surge in corporate banking and investment activity.
Jason Bilodeau, Macquarie Capital Market’s Canada analyst said that good numbers are here with trading revenues that are solidly in line with the last quarter. He also expressed that there is a healthy growth in the I-banking revenues. This is leading to the BMO Capital Market’s current strength, added with higher results coming from Canadian and U.S. BMO’s, counteracted with earnings from wealth management that recently fell for more than 12% which is 190 million Canadian dollars.
