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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Our Approach

In addition to financing opportunity, creating wealth and maximizing returns to our shareholders, we also play an important role in sustaining overall economic prosperity for our clients, our employees and our communities. The wealth we create is widely shared through employee compensation, the procurement of goods and services, dividends paid to shareholders, support for charitable initiatives and taxes.

Shareholder Value

Revenue increased $133 million in 2013 to $16,263 million. Adjusted revenue increased $505 million or 3% to $15,572 million. The increase was primarily due to revenue growth in Wealth Management, BMO Capital Markets and Canadian Personal and Commercial Banking, and continues to demonstrate the benefits of our diversified business mix and successful execution against our strategic priorities.


We employ approximately 45,500 people enterprise-wide, the majority of whom are in North America. We have arrangements in Canada and the United States that provide pension and other employee future benefits, including health and dental care benefits and life insurance for current and retired employees. The bank's pension plans are managed prudently and in accordance with all applicable laws and regulations. See Note 23 to the financial statements in the 2013 Annual Report.

Investment in Training

We provide employees with opportunities to grow and develop through formal training programs and on-the-job experience. In 2013, our investment in training was $91,113,439▲, which is an average of $1,962 per full-time equivalent (FTE) employee. Note: Average training hours per employee has not been disclosed or assured for the reporting year. See Indicator LA10 on page 42 for explanation.


Total government levies and taxes in 2013 were $1,716 million. These include payroll levies, property taxes, provincial capital taxes, business taxes, harmonized sales tax, GST and other sales taxes and sundry taxes. For a year-over-year breakdown of government levies and taxes, see Table 8 in the Supplemental Information section of the 2013 Annual Report.

Purchasing Goods and Services

In 2013, we purchased almost $4 billion worth of goods and services from more than 17,000 suppliers. Of that amount, approximately $2.7 billion was spent through our Canadian operations and close to $1.3 billion was spent through our U.S. operations. We also incur costs to operate our business. Total premises and equipment costs were $1,877 million and included rental of real estate premises, furniture and fixtures, property taxes, computers and equipment. For a year-over-year breakdown, see Table 8 in the Supplemental Information section of the 2013 Annual Report.


▲ 2013 data externally assured (KPMG's Assurance Statement is on pages 53–54 of the 2013 Environmental, Social and Governance Report and Public Accountability Statement)