Northwire Canada EditionWednesday, July 15, 2026
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Earnings

BMO Financial Group Reports First Quarter 2026 Results

By The Northwire Desk — AI Analysis Feb 25, 2026 · 06:00 BMO · 195.06 BANK OF MONTREAL
BMO · Price

Executive Summary

  • BMO Financial Group reported Q1 2026 net income of $2,489 million, a 16% increase year‑over‑year, and adjusted net income of $2,551 million (+11%).
  • Diluted EPS rose to $3.39 (reported) and $3.48 (adjusted), up 20% and 15% respectively versus Q1 2025.
  • The bank announced a second‑quarter dividend of $1.67 per share (unchanged from Q1 2026, +5% YoY) and repurchased 6.0 million common shares for cancellation.

Key Details

  • Profitability
  • Reported ROE: 12.1% vs. 10.6% in Q1 2025.
  • Adjusted ROE: 12.4% vs. 11.3% in Q1 2025.

  • CET1 Ratio: 13.1%, down from 13.6% at year‑end 2025.

  • Credit Quality

  • Provision for credit losses (PCL) fell to $746 million from $1,011 million YoY.

  • Impaired loan provision decreased by $120 million; performing loan provision down to $7 million from $152 million.

  • Segment Performance (CAD $ millions)

  • Canadian P&C: Net income $948 (+8% YoY); revenue up 7%.
  • U.S. Banking: Reported net income $742 (+17% YoY); adjusted net income $802 (+13%).
  • Wealth Management: Reported net income $352 (+7% YoY); adjusted $380 (+16%).
  • Capital Markets: Reported net income $657 (+11% YoY); adjusted $660 (+11%).

  • Corporate Services: Net loss narrowed to $210 million from $291 million YoY.

  • Acquisition Impact

  • Integration of Burgundy Asset Management (acquired Nov 1 2025) reflected in Wealth Management results.

  • Adjusting items (integration costs, amortization of intangibles, fair‑value adjustments) reduced net income by $62 million for the quarter.

  • Dividends & Share Repurchase

  • Quarterly dividend: $1.67 per common share (annualized $6.68).

  • Share buyback: 6.0 million shares repurchased and cancelled under normal course issuer bid.

  • Financial Tables Highlights

  • Reported revenue: $9,824 million (up from $9,341 million Q4‑2025).
  • Adjusted diluted EPS: $3.48 vs. $3.28 in Q4‑2025.

Notable Quotes

“BMO had a very strong start to the year… delivering higher return on equity and double‑digit earnings growth.” – Darryl White, CEO
“Through disciplined execution of our strategy we are making meaningful progress… delivering value for today and the future.” – Darryl White, CEO

Read the original news release →

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