Bank of Montreal

This article is about the Canadian bank. For its subsidiary in the United States, see BMO Bank.

Bank of Montreal
Banque de Montréal
BMO Bank of Montreal
BMO Financial Group (US)
Native name
Banque de Montréal
FormerlyMontreal Bank (1817–1822)
Company typePublic
TSX: BMO
NYSE: BMO
S&P/TSX 60 component
IndustryFinancial services
Founded
  • Montreal Bank (23 June 1817; 207 years ago (1817-06-23))
    Montreal, Lower Canada
  • Bank of Montreal (22 July 1822; 202 years ago (1822-07-22))
Headquarters
Key people
Services
RevenueDecrease Can$31.2 billion (2023)[3]
Decrease Can$4.37 billion (2023)[3]
AUMIncrease Can$333 billion (2023)[3]
Total assetsIncrease Can$1.29 trillion (2023)[4]
Total equityIncrease Can$77.0 billion (2023)[3]
Number of employees
55,767 (FTE, 2023)[3]
SubsidiariesBMO Capital Markets
BMO Bank, N.A.
BMO Nesbitt Burns
Moneris
Diners Club International (North America Operations)
Clearpool Group
Lloyd George Management
LGM Investments
AIG Life Insurance Company of Canada
Radicle Group
Air Miles
Websitebmo.com

The Bank of Montreal (French: Banque de Montréal), abbreviated as BMO (pronounced /ˈbiːmoʊ/), is a Canadian multinational investment bank and financial services company.

The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank,[5] making it Canada's oldest bank.[6] In 2023, the company’s seat in Forbes Global 2000 was 84.[7] Its head office is in Montreal and its operational headquarters and executive offices are located in Toronto, Ontario, since 1977. It is commonly known by its ticker symbol BMO on both the Toronto Stock Exchange and the New York Stock Exchange.[8] In April 2024, it had CA$1.37 trillion in total assets.[4] The Bank of Montreal swift code is BOFMCAM2 and the institution number is 001.[9] In Canada, BMO has more than 900 branches and more than 1000 in the United States, serving over 13 million customers globally.[3]

In the United States, BMO does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Bank, N.A.. BMO Capital Markets is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns. On 12 December 2021, the Bank of Montreal announced the strategic acquisition of Bank of the West from BNP Paribas for US$16.3 billion.[10]

  1. ^ "Note 1: Basis of Presentation" (PDF). The Bank of Aiming Higher: BMO 201st Annual Report 2018. Bank of Montreal. 2019. p. 148. Retrieved 6 September 2019.
  2. ^ "Executive Bios | Corporate Information | BMO". www.bmo.com. Retrieved 13 March 2023.
  3. ^ a b c d e f "2023 Annual Report to Shareholders" (PDF). Investor Relations. BMO Financial Group. Retrieved 10 December 2023.
  4. ^ a b Cite error: The named reference BMO_Summary_Live was invoked but never defined (see the help page).
  5. ^ Cite error: The named reference montrealbank was invoked but never defined (see the help page).
  6. ^ Bonham, Mark S. (2012). "Bank of Montreal". The Canadian Encyclopedia. Retrieved 17 August 2019.
  7. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
  8. ^ Tor, Maria; Sarfraz, Tor (23 December 2013). "World's 100 Biggest Banks: China's ICBC #1, No U.S. Banks In Top 5". Forbes. SNL Financial. Retrieved 8 May 2014.
  9. ^ "Glossary of Banking Terms | BMO Bank of Montreal". BMO. Retrieved 29 December 2021.
  10. ^ "BMO Financial Group accelerates North American growth with the strategic acquisition of Bank of the West". BMO.com. December 2021. Archived from the original on 21 December 2021. Retrieved 21 December 2021.