BMO effortlessly surpassed analyst forecasts for the third quarter consecutively, owing to lesser losses from problematic loans in the United States and huge profit margins on both sides of the boundaries.

Earnings at the bank's U. S. lending business, however, dropped 31%, and BMO's results recommended that Canadian companies carry on to wrestle with their debts.

But the overall earnings that twofolded those of a year back, however started off profits season with a beat, sending the bank's stock surge 2.64% on Wednesday, to close at $60.26.

Barclays Capital Analyst, John Aiken wrote in a note to customers, "We believe that BMO's results set a very positive tone for earnings this quarter", adding that improved credit quality should be useful to all of the banks.

He said that the robust results from Bank of Montreal's capital markets group also looks good for other banks, mainly Royal Bank of Canada and National Bank of Canada.

But analysts warned against reading too much into what BMO's results imply for the sector, since the bank's showing has outshined the Street's forecasts more than its opponents in recent quarters.

A lot of factors gave BMO a boost, together with constant high trading profits. Analysts have been warning all through the calamity that trading returns that is likely to nourish instability in the stock market, are untenable.