Bank of Montreal

It is a multinational company located in Canada. It is one of the five largest and oldest banks in the country. It offers banking services, financial management, investments, loans, and more to clients and companies. The Bank of Montreal is known as BMO.

History

Bank of Montreal was created in 1817, being the first bank in Canada. It was the central bank of the country until 1935 (creation of the Bank of Canada). A year later, it began to expand rapidly both nationally and internationally. It opened its first branch in Quebec and New York, United States. The entity had been established for commercial clients, but in 1822, it became a private institution becoming the Bank of Montreal.

In 1938, it bought the Bank of the People and subsequently opened several offices in Halifax, Maritimes, Saint John, and Moncton. Also, it established branches in Newfoundland Colony in 1895. The bank already had branches in various parts of Canada and continued to expand with the purchase of several banks in the 1900s.

A decade later, it made significant acquisitions such as Exchange Bank of Yarmouth, People’s Bank of Halifax, and People’s Bank of New Brunswick. The institution supported the country by the economic crisis of the Second World War. In the 2000s, the Royal Bank of Canada joined its commercial businesses with the Bank of Montreal to form Moneris Solutions. It bought BCPBank in 2006 and AIG in 2009. All the acquisitions it made over the last few years served to position itself among the largest banks in assets and clients.

Swift Code

The Swift Code is an 8 or 11 character number that is used in an international transfer: BOFMCAM2.

Number of Employees

This prominent Bank of Montreal has the participation of 45,200 employees.

Moody’s, S&P, and Fitch agencies continuously assess the performance of banks.

Rating

Bank of Montreal has a rating of:

  • S&P = A+.
  • Moody’s = Aa2.
  • Fitch = AA-.

A+ (S&P Global) = The economic situation could affect financing.

Aa2 (Moody’s) = It has high quality and with a little more risk to long-term risks.

AA- (Fitch) = It means that the bank has very high security.

Headquarters

The head office is located in Montreal, Canada.

Website

The bank can be accessed through this address: http://bmo.com

Services

  • Business Banking: It offers services to clients with small or large businesses. It provides programs and account opening, credit cards, loans, mortgages, payment acceptance, payroll, deposits, and more.
  • Personal Banking: It allows customers to perform a wide variety of banking operations. It offers credit cards, loans, bank savings and credit accounts, mortgages, investments, financial planning, and asset management.

Contact

  • Address: Saint Jacques Street, Montreal, Quebec, Canada.
  • Phone Number: 1-877-225-5266.