BMO Q4 2009 Earnings

Scotia Capital, 25 November 2009Q4/09 - Earnings Very Strong - Large Beat� Bank of Montreal (BMO) reported a 4% decline in cash operating earnings to $1.13 per share, in line with our estimate but significantly above consensus of $0.96 per share. Operating ROE was 14.2% with Tier 1 at 12.2%. This is the first clean quarter since the financial crisis began.� Fiscal 2009 operating earnings declined