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TORONTO 鈥?BMO Financial Group topped analyst expectations in the third quarter as it reported strong declines in impaired loans among other indications of a recovering economy.The economy and our customers have shown remarkable resilience to an evolving landscape of pandem stanley cups ic-related restrictions, BMO chief executive Darryl White told an investor conference call Tuesday.With those now lifting and vaccination rates continuing to climb, the Canadian and U.S. economies remain poised for the strongest growth in decades. ARTICLE CONTINUES BELOW The bank set provisions for credit losses on impaired loans at $71 million in the quarter that ended July 30, a decrease of $375 million from $446 million in the prior year.It also reported a $141-million recovery of credit losses on performing loans in the current quarter, for a net total recovery of credit losses of $70 million, compared with credit loss provisions of $1.05 billion in the same quarter last year. ARTICLE CONTINUES BELOW The bank said the recovery of credit losses reflected an improving economic outlook and positive credit stanley termosy migration.The shift helped the company report a third-quarter profit of nearly $2.28 billion, or $3.41 per diluted share, up from a profi stanley cup t of $1.23 billion, or $1.81 per diluted share a year ago. ARTICLE CONTINUES BELOW On Ewxl Video and photos: The Walker s chocolate Easter Bunny factory
Halton council is sending a strong message to Queens Park opposing any potential municipal amalgamation that could result from the current regional government review.In a unanimous vote on Wednesday, March 27, regional councillors passed a motion supporting the current two-tier municipal government in Halton.The resolution put forth by Burlington Mayor Marianne Meed Ward goes on to assert that any changes by the province to the local structure would be disrupti stanley cups ve and wasteful. ARTICLE CONTINUES BELOW Our essential message to the province is, don water bottle stanley t fix whats not broken, said Meed Ward. But even more importantly than that, let Halton be your gold standard model for what regiona stanley cup website l government looks like. I think weve set a new standard of excellence in governance. The motion also received support from We Love Oakville, a grassroots group of 11 residents associations in Oakville who have come together to support the current system in Halton. ARTICLE CONTINUES BELOW Ted Haugen, who spoke on behalf of the group, told council they started a campaign a month ago to oppose amalgamation and have already raised $11,000 to support the cause 鈥?funds that will be used for signs, information cards and a potential mailing campaign. Our local government structure works well for us, he said. We strongly support the resolution for many reasons. ARTICLE CONTINUES BELOW