BMO Financial quarterly profit rises on capital markets strength

Canadian bank BMO Financial BMO.TO reported a rise in third-quarter profit on Tuesday, as volatility in the financial markets helped boost performance in its capital markets business.

The bank reported an adjusted profit of C$2.86 billion ($2.06 billion), or C$3.96 per share, in the three months ended July 31, compared with C$2.4 billion, or C$3.23 per share, a year earlier.

($1 = 1.3857 Canadian dollars)