BMO’s loan loss reserves climb

The Bank of Montreal (BMO) posted a C$26 million ($20 million) hike in provisions for credit losses over the three months to end-July – a 16% increase. 

Total PCLs stood at C$186 million, up from C$160 million in April. Of this total, C$177 million was cash put aside for soured loans and the rest for healthy assets. 

Provisions popped to C$137 million from C$128 million at BMO’s Canadian businesses but dropped to C$40 million from C$54 million at its US operations. The capital markets

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