A summary of how banks fared in the second quarter
Wealth management, personal and commercial banking saw increases in net income
BMO Wealth Management reported net income up 3% from a year ago
The global banking and markets arm saw a 6% year-over-year decline in profit
A BoC rate decision, more big bank earnings and Q1 GDP numbers are coming this week
The Greystone acquisition led to a bump in AUM
Profits were propelled by loan growth and higher interest rates
Retail banking losses were offset by wealth management gains
The wealth management and life insurance segments also saw smaller gains
Bigger contribution from IGM offset by lower earnings from life insurance companies