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Our vision is to be the top-performing financial services company in North America.   Our strategy is to grow our core Canadian businesses and accelerate our expansion in the United States.
   

We pursue our vision and realize our strategy through our steadfast commitment to our core values:

  • We care about our customers, shareholders, communities and each other.
  • We draw our strength from the diversity of our people and our businesses.
  • We insist upon respect for everyone and encourage all to have a voice.
  • We keep our promises and stand accountable for our every action.
  • We share information, learn and innovate to create consistently superior customer experiences.
   
2006 Strategic Priorities
See Enterprise-Wide Strategy (PDF, 106 KB) section of MD&A 		2006 Initiatives and Accomplishments

Achieve financial targets with a particular focus on revenue growth to improve productivity


See Financial Targets, CFAO’s Financial Review, COO’s Business Review and Who We Are (PDF, 65 KB) section of MD&A
  • Annual financial targets for ROE, EPS Growth, credit losses and Tier 1 Capital were achieved. The cash productivity ratio improved by 25 basis points, but was below our target because of continued investment in our retail businesses and a change in our business mix.

Drive revenue growth by providing a superior client experience, earning a larger share of customers’ business


See CFAO’s Financial Review, COO’s Business Review and Review of Operating Groups Performance section of MD&A (PDF, 676 KB)
  • Achieved revenue growth of 1.5%. Excluding the effects of the weaker U.S. dollar and the sale of Harrisdirect late in 2005, revenue grew 5.9%.
  • Acquired bcpbank Canada in December 2006.

Continue to improve U.S. performance


See COO’s Business Review and Review of Operating Groups Performance (PDF, 676 KB) section of MD&A
  • U.S. revenues decreased US$60 million and net income improved by US$2 million. Excluding Harrisdirect’s operations and the gain on its sale as well as variable interest entity (VIE) revenues in 2005, revenues increased US$173 million and net income improved by US$22 million, as both loan growth and improved deposit spreads contributed to performance.

Accelerate growth in the United States both organically and through acquisitions


See COO’s Business Review and Review of Operating Groups Performance (PDF, 676 KB) section of MD&A
  • Opened our 200th branch in the Chicago and Northwest Indiana market.
  • Acquired businesses contributed US$17 million to revenue growth. Excluding the operating revenue and sale of Harrisdirect and VIE revenues in the prior year, organic growth contributed US$156 million.
  • Completed the purchase of Villa Park Trust and Savings Bank and entered into an agreement to acquire First National Bank & Trust, furthering our expansion into the Indiana market.

Grow net income in Canada


See COO’s Business Review and Review of Operating Groups Performance (PDF, 676 KB) section of MD&A
  • Net income in Canada increased $345 million, driven by growth in each operating group.

Build a high-performance organization by developing our people, living our values and being an employer of choice


See COO’s Business Review and Employees
  • For the fifth consecutive year, BMO was the only major Canadian bank to be included in the prestigious Maclean’s list of Canada’s “Top 100 Employers.” BMO was also the top-ranked Canadian firm in Training magazine’s “Training Top 100.”

Maintain our world-class foundation of leading governance, sound risk management, productive systems and excellent after-sales service


See Chairman’s Message, CFAO’s Financial Review, Corporate Governance and Enterprise-Wide Risk Management (PDF, 331 KB) section of MD&A
  • Implemented end-to-end reviews of key enterprise processes and explored opportunities to leverage risk management expertise.
  • Continued to implement enterprise-wide service quality initiatives that will contribute significantly to superior customer experiences and after-sales service.
  • Redesigned our talent management and personal performance processes to drive greater clarity, transparency and accountability.

2007 Strategic Priorities

Build a superior Canadian personal banking business to ensure that we meet all of our customers’ financial needs.

Further strengthen our commercial banking businesses to become a leading player everywhere we compete.

Grow our wealth management businesses, capturing an increasing share of this high-growth market.

Drive strong returns and disciplined growth in our North American investment banking business.

Improve our U.S. performance and expand our network to become the leading personal and commercial bank in the U.S. Midwest.

Build a high-performing, customer-focused organization supported by a world-class foundation of productive technologies, efficient processes, disciplined performance management, sound risk management and governance.

BMO Financial Group Annual Report 2006 Home