Canada's Bank of Montreal posted a lower fourth-quarter profit on Thursday, as revenue from its capital markets business tumbled and the lender increased provisions for credit losses.

Net income, excluding one-off items, fell to C$2.14 billion ($1.59 billion), or C$3.04 a share, in the three-month period ended Oct. 31, from C$2.23 billion, or C$3.33 a share, last year.

Analysts had estimated the company to report a profit of C$3.07 per share, according to data from Refinitiv IBES. ($1 = 1.3428 Canadian dollars) (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Sherry Jacob-Phillips)