Among Canadian banks, credit provisions leap highest at BMO
Aggregate provisions for credit losses up 0.7% quarter-on-quarter at “Big Five”
Three of the five largest Canadian banks put aside more provisions for credit losses in the three months to end-July than in the preceding quarter, with Bank of Montreal disclosing a whopping 74% spike.
Aggregate PCLs across the “Big Five” stood at C$2.39 billion ($1.82 billion), up 0.7% quarter-on-quarter. Year-on-year, the increase was 5.5%.
Bank of Montreal ratcheted up provisions the most of the group, taking C$306 million out of income, C$130 million (74%) more than in the previous
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