Management’s Discussion and Analysis

Canadian Personal and
Commercial Banking

Canadian Personal and Commercial Banking provides a full range of financial products and services to eight million customers. We’re here to help our customers make the right financial decisions as they do business with us seamlessly across our channels: getting advice from our employees at their place of business, in over 900 branches, on their mobile devices, online, over the telephone, and at over 3,300 automated teller machines across the country.

Cameron Fowler
Group Head
Canadian Personal and Commercial Banking, BMO Financial Group (1)

Lines of Business

Personal Banking provides customers with a wide range of products and services, including chequing and savings accounts, credit cards, mortgages, creditor insurance and everyday financial and investment advice. Our employees are focused on providing all of our customers with an exceptional experience every time they interact with us.

Commercial Banking provides small business and commercial banking customers with a broad suite of commercial products and services, including business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange and specialized banking programs. Our Commercial bankers partner with our customers to help them grow and manage their business.

Strengths and Value Drivers

  • Highly engaged team of dedicated employees focused on providing a personalized banking experience, anticipating customers’ needs and finding new ways to help.
  • Leading commercial banking business, as evidenced by BMO’s number two ranking in Canadian market share for business loans up to $25 million.
  • Strong retail banking business including leading digital sales, with nearly 20% of applications submitted through our digital channel.
  • Largest Mastercard® card issuer in Canada for both retail and commercial cards.
  • Consistently applied credit risk management practices that provide customers with reliable access to appropriate financing solutions. Prudent underwriting standards to support responsible personal lending and long-term financial sustainability.
  • Proud to be the official bank of the Canadian defence community, serving the unique needs of Canadian military members and their families since 2008.

Strategy and Key Priorities

Capture key growth and loyalty opportunities by delivering a leading digital experience and personalized advice.

Key Priority

Continue our focus on customer loyalty and growth

2017 Achievements

  • Achieved strong employee engagement survey results, above leading company benchmarks, particularly around customer focus, demonstrating our employees’ ongoing commitment to deliver a leading customer experience.
  • Created dedicated teams focused on improving moments that matter, to help improve overall service.
  • Upgraded 21 branches across Canada, including two new Smart Branch locations in Winnipeg and Toronto, providing customers with the best of our innovative technologies in a unique, smaller format tailored to their needs.
  • Continued enhancing our automated teller machines (ATM) network this year by including the flexibility to choose bill denominations in 40% of our ATMs across Canada.

2018 Focus

Continue to focus on improving customer loyalty by deepening relationships.

Personal Banking – 2017 Achievements

  • Ran effective campaigns in support of key offerings ranging from home financing to Everyday Banking, helping to increase our new-to-BMO customer base.
  • Grew our mix of advice-based roles, strengthening our ability to engage with customers on the financial issues important to them, whenever and however they choose to interact.
  • Launched free Interac® eTransfers for all BMO customers.

2018 Focus

In personal banking, deliver a leading customer experience leveraging new digital channels and existing networks.

Commercial Banking – 2017 Achievements

  • Improved processes and increased platform efficiencies, allowing our sales force to spend more time directly engaging with customers.
  • Launched eBusiness Plan for small business clients who prefer to bank through self-serve electronic transactions, as well as a new suite of commercial Mastercard® products.
  • Named Best Commercial Bank in Canada for the third consecutive year by World Finance Magazine at its 2017 Banking Awards in recognition of our strong regional and industry focus, as well as our commitment to building customer relationships and providing innovative solutions, notably in the area of Aboriginal banking.

2018 Focus

In commercial banking, target opportunities through diversification across high-value sectors and businesses, while maintaining core strengths.

Key Priority

Deliver a leading digital experience

2017 Achievements

  • Continued to grow digital channel sales volume, up nearly 24% from the prior year and now equivalent to the total sales volume at approximately 125 branches.
  • Continued to enhance and simplify the account opening process, and extended our industry-leading mobile account opening journey to desktop platforms.
  • Introduced Android Pay, allowing customers to make secure purchases easily with their BMO credit and debit cards.
  • Enhanced credit card features to enable easy online viewing of credit card rewards balances, alerts and pending transactions.
  • Received the 2017 Model Bank Award from the global research and advisory firm Celent, for work in advancing process automation through the effective deployment of new technology.

2018 Focus

Continue to increase digital sales and service transactions.

(1) Effective November 1, 2017, Cameron Fowler was appointed President, North American Personal and Business Banking, BMO Financial Group.


This Canadian P&C Banking section contains forward-looking statements. Please see the Caution Regarding Forward-Looking Statements.