Bank Of Montreal - Quick Facts
Bank of Montreal headquarters is located in Toronto
, Canada. It was founded in the city of Montreal. It is almost 200 years old making it the oldest bank in this country. It is also the Canada's fourth largest bank based on its deposits.
BMO as this bank is popularly called has more than nine hundred branches. Its clients are more than 7 million. It operates mainly in the country of Canada although it operates branches in Chicago and other different parts of United States.
There are 3 main divisions of the financial services offered by this bank. The three categories are known as 'client groups'. This name comes from the fact that each of the groups serves and targets a market segment that is different from the other.
Personal and commercial client group is the first category. This department deals with retail
financial services of the bank. This means that it offers financial services to businesses and individuals based in Canada. The services include handling checks, savings, personal loans, mortgages, credit cards and debit cards and other retail services.
This section also handles insurance services offered by the bank. These include life insurance and travel insurance. It also offers income annuities for those interested in saving for retirement. Mortgage life insurance is also offered to protect the home upon the death of the insured.
Investment banking group deals with capital markets. The department handles securities, bond markets and equity among others. The main beneficiaries of this segment are corporate companies and the government. They are given advice on the best ways to invest so as to realize maximum earnings from the investments they have made.
Lastly, there is private client group also called wealth management section. The target of this department is clients who have a high net worth. Such customers are assisted in planning their investments. They are also assisted in investing the assets based upon personal criteria and financial expectations. The department also gives advisory facilities in USA.
BMO has social responsibility programs that are strong. Through donations, sponsorship programs and volunteering it is able to invest in its neighborhoods. For instance it makes donations to projects supporting health, arts, culture and education. Projects dealing with athletics, sports and community development are also supported. They also sponsor programs supporting protection and conservation of environment.
Bank of Montreal gives affordable and accessible
financial services to customers. The customer has a variety of services to select from. Potential clients can reach them online for answers to any queries that they may have.
Bank Of Montreal - Quick Facts
By: m.daly
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