TORONTO - The Bank of Montreal saw its first-quarter profit rise seven per cent to $1.07 billion as it grew revenue in its personal and commercial banking segments on both sides of the border.

The earnings amounted to $1.58 per common share.

On an adjusted basis, the bank (TSX:BMO) had $1.18 billion in net income, or $1.75 per share.

Its revenue amounted to $5.08 billion for the quarter ended Jan. 31, up from $5.06 billion a year ago.

The bank's Canadian personal and commercial banking business saw its profits climb by five per cent from a year ago to $529 million.

South of the border, BMO's personal and commercial banking division increased its net income by 31 per cent to $251 million.