B of M reports record quarterly profit

Article Abstract:

Bank of Montreal has posted a profit of C$398 million or C$1.37 a share on revenue of C$2.05 billion in the quarter ended July 31, 1999, up by 4.5% and 5.9%, respectively, from the year-ago period. The profit includes a one-time after-tax gain of C$18 million or 6 cents a share. Operating income, excluding one-time gains, was $1.31 per share. The bank made an unexpected gain of C$20 million or 4 cents per share in cash collections from past due loans which it managed to retrieve.

Bank of Montreal

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TD posts record quarterly profit

Article Abstract:

Toronto-Dominion Bank has (TD) reported a record quarterly profit of C$312 million in the 1st qtr or C$1.01 a share in the 1st qtr FY99, up by 6.5% from C$293 million or 95 cents a share in the 1st qtr FY98. The bank posted a 17% increase in revenue to C$1.78 billion during the period. TD attributed the record profits to the good performance of its commercial and investment banking divisions, which made profits of C$135 million and C$80 million, respectively.

Toronto Dominion Bank

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