One of Canada’s top five banks today, the Bank of Montreal, posted earnings for the second quarter of 2010.

The bank reported higher than expected earnings as provisions for bad debts declined significantly.

The bank said total bad loan expenses in the period were $249-million, down from $372-million in the same period last year.

Aggregately, the Bank of Montreal reported net earnings of $745-million ($1.26 per share) in the period, marking the fifth straight quarterly increase in both revenue and net income. This compares with $387-million in net income in the second quarter of last year, an increase of almost 50-percent.

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Canada’s fourth-largest bank, the Bank of Montreal, today announced Q1 2010 earnings for the period ended January 31, 2010.

The bank reported net income from operations as CDN $657-million, exponentially up from $225-million in the same period over last year.

The bank said loan losses from Canadian operations declined, allowing the company to lower capital adequacy reserves as deposits grew. Loan losses from the U.S. increased, earning BMO a $16-million net profit from U.S. operations.

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