10:05 AM EST - BMO Financial Group : says its third-quarter profit fell by 21 percent to $521 million as the banking group increased its provisions for bad loans. The profit amounted to 98 cents per share on a diluted basis and compared with the Canadian bank's profit of $660 million or $1.28 a share a year earlier. BMO said its provisions for credit losses in the quarter totalled $484 million. That included a $50-million increase in the bank's general allowance for credit losses and $247 million for two corporate accounts related to the U.S. housing market. Overall revenue increased by $191 million to $2.75 billion, up 8 percent compared with the third quarter of 2007. BMO Financial Group
shares T.BMO are trading down 93 cents at $43.13.
