BMO Q3 2008 Earnings

RBC Capital Markets, 27 August 2008Bank of Montreal's GAAP EPS of $0.98 were well below our $1.20 estimate on much higher than expected loan losses.� Offsetting the higher loan losses were better than expected revenues in Canadian retail banking and the wholesale division.� The Tier 1 of 9.9% was up from 9.4% in Q2/08, which is a strong capital position in our view.Lowered EPS estimates; Maintain