Management’s Discussion and Analysis

U.S. Personal and
Commercial Banking

Through a strong and well-established position in the U.S. Midwest, BMO Harris Bank offers a broad range of financial services to more than two million customers. Our personal banking team serves retail and small and mid-sized business customers seamlessly through over 570 branches, dedicated contact centres, digital banking platforms and nationwide access to more than 43,000 automated teller machines. Our commercial banking team provides a combination of sector expertise, local knowledge and a breadth of products and services, working to help our clients with their financial needs.

Alexandra Dousmanis-Curtis
Group Head
U.S. Retail and Business Banking

David R. Casper
President and Chief Executive Officer BMO Harris Bank N.A.
and Group Head Commercial Banking

Lines of Business

Personal Banking offers a broad range of products and services, including deposits, mortgages, consumer credit, business lending, credit cards and other banking services. Our goal in everything we do is to help our customers make sense of complexity, enabling them to make better choices in saving, investing and borrowing, and have confidence in their financial decisions.

Commercial Banking provides business customers with a broad range of banking products and services, including lending, deposits and credit cards, as well as treasury management and risk management solutions. We believe in partnering with our clients to anticipate their financial needs and sharing our expertise and knowledge to help them grow their businesses.

Strengths and Value Drivers

  • Rich heritage of 170 years in the U.S. Midwest, with a deep commitment to our communities and helping our customers succeed.
  • Strong and experienced team that understands our customers and knows how to compete and perform in our markets.
  • Strong foundation for accelerated growth in retail banking, with a large, growing and loyal customer base, an extensive branch network, a broad suite of products and services and a continuing focus on digital capabilities.
  • Large-scale, diversified national commercial business, centred in the U.S. Midwest and supported by in-depth industry knowledge, best-in-class customer experience and top-tier market share in our flagship businesses.
  • Comprehensive and integrated control structure to actively manage risk and regulatory compliance.

Strategy and Key Priorities

We aim to grow our business and be a leader in our markets by creating a differentiated and intuitive partnership with our customers to address all of their financial needs.

Key Priority

Deliver a great customer experience to a loyal and growing customer base

2017 Achievements

  • Further improved customer loyalty as measured by Net Promoter Score in both commercial and business banking by improving our product offerings, deepening our understanding of our clients’ needs and enhancing our digital solutions.
  • Strong customer growth, with leading net deposit household acquisition in retail and continued improvement in commercial net customer acquisition.
  • Maintained our second place ranking in deposit market share in our core Chicago and Wisconsin markets and our fourth place across our Midwest footprint.
  • Released BMO Harris Bank Masterpass, Android Pay and Samsung Pay digital wallets, offering a seamless way for customers to pay for purchases in-store, in-app, and online.
  • Improved our ranking to eighth among 39 leading American banks in the 2017 Survey of Bank Reputations published by American Banker, which recognizes banking institutions for their governance, products and services, and innovation.

2018 Focus

Continue to invest in digital capabilities that will enhance our competitive position and improve our cost structure, while increasing collaboration across our businesses to deliver comprehensive “One Bank” financial solutions to our clients.

Key Priority

Accelerate personal banking by leveraging the strong foundation and growth we have achieved to build scale, improve profitability, and meet our customers’ evolving needs

2017 Achievements

  • Expanded customer access to include more than 43,000 ATMs in the United States and 12,000 international ATMs through our partnership with Allpoint®.
  • Introduced a new suite of chequing products tailored to match the lifestyles of our customers and focused on bringing simplicity to banking at every stage of life.
  • Launched People Pay, a secure way to send money to friends and family using the BMO Harris Mobile Banking® app.
  • Partnered with 1871 – a leading technology and entrepreneurship ecosystem currently home to nearly 500 high-growth start-ups – to mentor early-stage fintech start-ups and identify opportunities for continued growth and innovation.
  • Continued to execute our multi-year strategy to improve efficiency and digitize the customer experience, including an enhanced account opening experience and investments in Smart Branch technology.

2018 Focus

Further accelerate deposit and customer growth, enhance our lending operating model and expand our front-end and back-end digital capabilities.

Key Priority

Continue to deliver local access and industry expertise to commercial banking clients across more sectors and an expanding geographic footprint through a proven and effective operating model

2017 Achievements

  • Expanded coverage to Texas and Ohio and into new product segments – healthcare real estate and mezzanine finance.
  • Strengthened our presence in dealer finance by expanding into San Diego, Boston, and North Carolina and by improving coordination with our retail auto business.
  • Successfully completed the integration of BMO Transportation Finance, allowing us to leverage the combined capabilities and suite of financial solutions to better meet our customers’ needs.
  • Expanded our cross-border service group and offering as part of our continuing commitment to delivering a consistent, seamless and integrated client experience across the enterprise.
  • Launched a new suite of Mastercard® products that consolidates multiple types of business expenses – purchasing, travel and fleet spending – into a single card.

2018 Focus

Continue to grow the commercial banking franchise by deepening market share in our flagship businesses, investing in high-growth markets and specialty businesses and improving share of wallet by delivering comprehensive solutions to meet all of our clients’ needs.


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