BMO Financial Group has announced a net income of $1bn for the first quarter of the year. On an adjusted basis, the net income is at $1,041m.

Chief executive Bill Down credited the results to the impact of an unsettled environment, “in which we saw significant movements in oil prices, long-term interest rates and the Canadian dollar.

“Against this backdrop, underlying business performance was solid, with combined Personal and Commercial Banking adjusted earnings of $708m, up 6% year over year, reflecting the benefits of our diversified and growing customer base.”

Moreover, the Bank of Montreal has also announced that its Board of Directors have declared a quarterly dividend of $0.80 per share on paid-up common shares of the bank for Q2 2015, unchanged from the previous quarter.

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