{"id":53633,"date":"2024-12-05T12:08:09","date_gmt":"2024-12-05T12:08:09","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/12\/05\/bmo-misses-expectations-on-higher-credit-loss-provisions\/"},"modified":"2024-12-05T12:08:09","modified_gmt":"2024-12-05T12:08:09","slug":"bmo-misses-expectations-on-higher-credit-loss-provisions","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/12\/05\/bmo-misses-expectations-on-higher-credit-loss-provisions\/","title":{"rendered":"BMO misses expectations on higher credit loss provisions"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Finance<\/li>\n<li class=\"breadcrumbs__item\">Banking<\/li>\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">BMO\u2019s provisions for credit losses soared to $1.5 billion in the fourth quarter<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Naimul Karim straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/nkarim\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Dec 05, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 5\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"435328e8-6213-4609-a9d4-4ccce9703207\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=-LzWjssKnoJkZytAQeeCGA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=ASrJR9TlYO56fCcnH0zPPA 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=FMfA8EMB-SSUUnWPK04jRQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=3cfKRBuZ-Zdh2OmkTxcF8g 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=WSN5SHIGut2sIweKQR2pBg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=0byIXxjLr8aPLa6E-IC7_w 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=sLoJiRyzgaCPOfs7a0C5sw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=ENXMPcF7tFOOJ5eEHFx5YA 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=4HftEl8B6aeDzJY_U4NT-A,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1206-bc-bmo.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=4tIy_3km_4ZBctTvVsOKzA 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">BMO increased its quarterly dividend by four cents to $1.59 per share.<\/span> <span class=\"credit\">Photo by POSTMEDIA ARCHIVES<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Bank of Montreal\u2018s fourth-quarter earnings fell short of analyst expectations as it was forced to set aside significantly more money than expected to cover potential bad loans, a credit deterioration the bank\u2019s chief risk officer says has reached a \u201chigh point.\u201d<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>BMO\u2019s total provisions for credit losses (PCL) \u2014 the amount of money banks keep aside to tackle potentially bad loans \u2014 increased to $1.5 billion, up from $446 million a year ago and much higher than analysts\u2019 expectation of about $1.04 billion.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment9094418952914774527530148546215936\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" 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Joe O&#8217;Connor, Gabriel Friedman and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The lender\u2019s results in general this year have been impacted by elevated provisions for credit losses. For example, BMO\u2019s PCL in the previous quarter jumped to $906 million from $492 million in the same period a year ago.<\/p>\n<p>But chief risk officer Piyush Agarwal expects 2025 to be better.<\/p>\n<p>\u201cWhile we expect provisions to remain elevated, we believe that Q4 represents a high point and will begin to moderate through 2025,\u201d he said on a conference call on Thursday.<\/p>\n<p>Agarwal said the impact of the PCLs led to \u201ca lot of learning,\u201d and that the bank now has an \u201cimproved process\u201d with regards to client selection or due diligence.<\/p>\n<p data-async=\"\">\u201cWe\u2019ve talked about the interest rates and how that was an impact to probably many clients,\u201d he said. \u201cBut really, in hindsight \u2026 I think there were some segments of clients that we onboarded in that vintage, around (2021) \u2026 that did not play to our advantage, that were the cause of the big losses in \u201924.\u201d<\/p>\n<p>For 2025, BMO has a \u201cstrong foundation and significant balance sheet capacity for growth,\u201d chief executive Darryl White said in a statement. \u201cWe are confident in the execution of our strategy to drive profitable growth and enhanced return on equity over the medium term.\u201d<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot18 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste997277780467329375905364339326976\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Posthaste\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.5.4\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment7972965502508922197901167111962624\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>BMO\u2019s net income for the three-month period ending Oct. 31 was $2.3 billion, which was higher than the $1.7 billion earned during the same period last year and resulted in net earnings per share of $2.94.<\/p>\n<p>However, adjusted for certain conditions, the bank earned $1.5 billion on an adjusted basis compared to $2.2 billion a year ago. This resulted in adjusted earnings per share of $1.90. Analysts had expected BMO to earn $2.38 per share, according to a Bloomberg survey.<\/p>\n<p>John Aiken, an analyst at Jefferies Inc., said PCL was 50 per cent more than forecasted, but BMO seems to be clearing the decks.<\/p>\n<p>\u201cBMO appears to be trying to put its credit issues behind it, with even higher provisions on performing coincident with a spike in reserves against performing loans to buttress against future deterioration,\u201d he said in a note on Thursday. \u201cWhile this will likely be viewed positively by investors, the degree of relief will be contingent on management\u2019s commentary along with the level of conviction that the market has that credit has peaked.\u201d<\/p>\n<section aria-labelledby=\"moreTopicLabel6916428121484582978243099793293312\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" rbc=\"\" and=\"\" bmo=\"\" stand=\"\" out=\"\" among=\"\" canadian=\"\" banks=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Royal Bank earns sizable revenue from the United States, which is expected to help boost earnings when the bank reports in early December.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/royal-banj-gs1125.png?h=96&amp;strip=all&amp;quality=80&amp;sig=Goc8K4_YeMvANIu-6YwX1g\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/royal-banj-gs1125.png?h=96&amp;strip=all&amp;quality=5&amp;sig=bY9c7n1dUCYiXv5fi30CLQ\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/royal-banj-gs1125.png?h=96&amp;strip=all&amp;quality=80&amp;sig=Goc8K4_YeMvANIu-6YwX1g, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/royal-banj-gs1125.png?h=192&amp;strip=all&amp;quality=80&amp;sig=-t80XDIzTF0dTk6rQATlVw 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/royal-banj-gs1125.png?h=288&amp;strip=all&amp;quality=80&amp;sig=I7lfzFlM6CbENdNR2x-EbQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Why RBC and BMO stand out among Canadian banks<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" banks=\"\" could=\"\" benefit=\"\" from=\"\" trump=\"\" victory=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Some of Canada's biggest banks are poised to make gains with Donald Trump set to take over in the White House.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-banks-gs1106.png?h=96&amp;strip=all&amp;quality=80&amp;sig=f9HonKsAGl8QwHZ-OD2vTA\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-banks-gs1106.png?h=96&amp;strip=all&amp;quality=5&amp;sig=VZpptAHIoBS9dnZZtdhBoA\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-banks-gs1106.png?h=96&amp;strip=all&amp;quality=80&amp;sig=f9HonKsAGl8QwHZ-OD2vTA, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-banks-gs1106.png?h=192&amp;strip=all&amp;quality=80&amp;sig=P1jtImFJTFSk5gRph58tYg 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-banks-gs1106.png?h=288&amp;strip=all&amp;quality=80&amp;sig=McAE49G9eQm4Gtst1tUa1w 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian banks could benefit from Trump&#8217;s victory<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment8920051994306465432156677976621056\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>BMO also announced it has increased its quarterly dividend by four cents to $1.59 per share.<\/p>\n<p>Meny Grauman, an analyst at Bank of Nova Scotia, said in a note that there was \u201cno way to sugarcoat a 20 per cent miss\u201d in earnings. But he highlighted the bank\u2019s in-line pre-tax earnings and strong capital position that led to the dividend increase and a new round of share buybacks. The key focus of investors, however, will remain on BMO\u2019s credit situation, he said.<\/p>\n<p data-async=\"\"><em>\u2022 Email: nkarim@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>BMO misses expectations on higher credit loss provisions<\/a><br \/>\n<br \/>2024-12-05 12:08:09<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Finance Banking News BMO\u2019s provisions for credit losses soared to $1.5 billion in the fourth quarter Get the latest from Naimul Karim straight to your inbox Sign&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53633","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53633"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53634"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}