Who We Are

Key Facts

$367 billion in total assets as of October 31, 2007
35,827 employees
TSX and NYSE: BMO

Founded in 1817 as Bank of Montreal, BMO Financial Group is today a highly diversified North American financial services provider. Through our four operating groups – Personal and Commercial Banking Canada, Personal and Commercial Banking U.S., Private Client Group and BMO Capital Markets – we serve a broad range of personal, commercial, corporate and institutional customers.

Personal and Commercial Banking

Personal and Commercial Banking Canada (P&C Canada) serves over seven million customers. Working in partnership with other BMO businesses, we offer a full range of products and services. These include solutions for everyday banking, financing, investing, credit card and insurance needs, as well as a full suite of integrated commercial and capital market products and financial advisory services. P&C Canada’s extensive delivery network encompasses almost 1,000 BMO Bank of Montreal^® traditional and instore branches, telephone banking, online banking at bmo.com, mortgage specialists and our network of almost 2,000 automated banking machines. Our personal and commercial banking business is among the five largest in Canada.

2007 Highlights

Introduced a new AIR MILES^®1 program that rewards personal customers for purchases made on debit cards, as well as existing rewards on credit cards. They also receive additional reward miles when they do more of their business with BMO.
Fully integrated the bcpbank Canada branches, enabling former bcpbank Canada customers as well as BMO customers wider access to products and services. This has increased our presence in a multicultural market in a high-growth area.
Improved market share across all commercial banking segments for loans under $5 million, reinforcing our continued strength in servicing the commercial marketplace.

P&C Group discussion in MD&A (PDF, 277 KB)

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Pie chart depicting 57% of total operating net income

P&C Canada contributed: 57% of total operating net income, or $1,250 million

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Personal and Commercial Banking U.S. (P&C U.S.) serves personal and business customers in select markets of the U.S. Midwest with a full range of products and services delivered through a community banking model that emphasizes local knowledge and commitment. Harris’^®† extensive distribution network of 232 convenient, attractive branches, online banking at harrisbank.com, nearly 600 automated banking machines and an award-winning call centre support our strong focus on customer service.

2007 Highlights

Further improved customer loyalty through refining our customer experience and providing excellent customer service.
Emphasized same store revenue growth while maintaining a disciplined focus on managing expenses.
Continued to build our branch network primarily through acquisition, closing on our acquisition of First National Bank & Trust in Indiana and announcing the acquisitions of Ozaukee Bank and Merchants and Manufacturers Bancorporation, Inc. in Wisconsin.

P&C Group discussion in MD&A (PDF, 277 KB)

Pie chart depicting 5% of total operating net income

P&C U.S. contributed: 5% of total operating net income, or $114 million

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Private Client Group

Private Client Group (PCG) brings together all of our wealth management businesses. PCG serves a full range of client segments, from mainstream to ultra-high net worth, as well as select institutional market segments. Working together with our partners throughout BMO and Harris, we offer clients a broad range of wealth management products and services, including full-service and online brokerage, private banking and investment products.

2007 Highlights

Delivered strong referral volumes in the United States, increasing referrals to and from Harris Private Bank by nearly 80%. PCG Canada delivered consistently strong referrals, continuing to improve on the high levels attained in prior years.
BMO Harris Private Banking was recognized in Euromoney Magazine’s Global Survey of private banking services as the Best Local Private Bank in Canada and Harris Private Bank was rated as one of the top five local private banks in the United States.

PCG Group discussion in MD&A (PDF, 201 KB)

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Pie chart depicting 19% of total operating net income

PCG contributed: 19% of total operating net income, or $408 million

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BMO Capital Markets

BMO Capital Markets (BMO CM) combines all of our businesses serving a broad range of corporate, institutional and government clients in Canada and the United States. We also serve clients in the United Kingdom, Europe, Australia/Asia and South America. BMO Capital Markets offers complete financial solutions, drawing upon our expertise in areas including equity and debt underwriting, corporate lending and project financing, mergers and acquisitions advisory services, merchant banking, securitization, treasury and market risk management, foreign exchange, derivatives, debt and equity research, and institutional sales and trading.

2007 Highlights

Improvement in cross-selling performance over the prior year in our efforts to grow U.S. revenues.
U.S. Investment and Corporate Banking revenue growth fuelled by continued hiring of 13 sector and product specialists for key roles in the United States.
Leveraged our Canadian market leadership to expand our presence in the United States and Europe.
Ranked as the top Equity Research Group in Canada for the 27th consecutive year in the Brendan Wood International Survey of Institutional Investors.

BMO Capital Markets discussion in MD&A (PDF, 180 KB)

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BMO CM contributed: 19% of total operating net income, or $425 million

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