Business

BMO reports $1.49B of net income in 1st quarter, up 39%

​The Bank of Montreal had net income of $1.49 billion during its first quarter, up 39 per cent from a year ago, according to results posted early Tuesday.

Earnings amount to $2.22 per share, up from $1.58 in Q1 of 2016

A women walks into the the BMO office tower in Toronto on April 5, 2016. The bank reported $5.41 billion of revenue on Tuesday, compared with $5.08 billion a year ago. (Nathan Denette/Canadian Press)

​The Bank of Montreal had net income of $1.49 billion during its first quarter, up 39 per cent from a year ago, according to results posted early Tuesday. 

During the same period last year, BMO had $1.07 billion of quarterly profit.

The earnings amounted to $2.22 per share, up from $1.58 per share during the first quarter of 2016.

The bank also reported $5.41 billion of revenue, compared with $5.08 billion a year ago.

On an adjusted basis BMO earned $1.53 billion, or $2.28 per share, up from $1.18 billion, or $1.75 per share, a year ago.