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Posted AT 5:09 PM EDT on 16/11/07

BMO taking $320-million charge

TARA PERKINS

Globe and Mail Update

Bank of Montreal on Friday became the latest big Canadian bank to disclose that it's taking a hit as a result of the recent credit crunch, saying it will take a one-time charge of about $320-million in the fourth quarter as a direct result of the financial turmoil. Bank of Montreal on Friday became the latest big Canadian bank to disclose that it's taking a hit as a result of the recent credit crunch, saying it will record one-time charges of about $320-million in the fourth quarter.

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