Who we are
As the 7th largest bank in North America by assets, we provide personal and commercial banking, global markets and investment banking services to 13 million customers. We're proud to be fueling progress for individuals, families and businesses across North America.
Explore BMO
Discover what defines us—from our commitment to responsible governance to the leaders who shape our vision and the journey that brought us here.
Business conduct
Learn more about our business conductLearn how we protect privacy, respond to complaints, and uphold ethical standards—including through our whistleblower hotline.
Leadership & governance
Explore leadership & governanceMeet the leaders guiding our organization and learn about the committees that oversee our governance and strategy.
History
Explore our heritageLearn about our history and access our archives to discover the stories and milestones that define us.
Our three operating groups
Established in 1817, BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.41 trillion. We are a highly diversified financial institution providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services. We serve millions of customers across North America, and in select markets globally, through three integrated operating groups.
Personal and Commercial Banking
Provides financial products and services to customers across North America. Personal and Business Banking helps customers make real financial progress through an extensive network of branches, contact centres, digital banking platforms and automated teller machines. Commercial Banking offers valuable industry expertise, local presence and a comprehensive range of commercial products and services.
BMO Wealth Management
Serves a full range of clients, from individuals and families to business owners and institutions, offering a wide spectrum of wealth, asset management and insurance products and services aimed at helping clients make real financial progress through planning, growing, protecting and transitioning their wealth. Our asset management business is focused on making a positive impact and delivering innovative financial solutions and strategies for our clients.
BMO Capital Markets
Offers a comprehensive range of products and services to corporate, institutional and government clients. BMO Capital Markets has thousands of professionals around the world supporting the growth aspirations of our clients across the enterprise.
Boldly Grow the Good in business and life.
Our Purpose and Values
Our reputation and success come from living our core values every day and earning the respect of people we work with and the customers and communities we serve. These values define who we are and what we stand for as an organization, unite us across business groups, cultures and geographies and guide us to do the right thing while delivering on Our Purpose: to Boldly Grow the Good in business and life.
Integrity: Do what’s right
Inclusion: Learn from difference
Responsibility: Make tomorrow better
Empathy: Put others first
Financial Performance
2024 financial performance
2024 financial performance Medium-term objectivesfootnote 1
Reported Adjustedfootnote 2 EPS growth of 7% to 10%
65.1% (18.0)% ROE of 15% or more
9.7% 9.8% ROTCE of 18% or more
13.5% 13.1% Operating leveragefootnote 2 of 2% or more
19.8% 1.6% Capital ratios that exceed regulatory requirements
13.6% CET1 Ratio footnote 4
13.6% CET1 Ratiofootnote 4
3-year footnote 3 financial performance
3-year financial performance Medium-term objectivesfootnote 1
Reported Adjustedfootnote 2 EPS growth of 7% to 10% (6.3)% (9.3)% ROE of 15% or more 12.9% 12.5% ROTCE of 18% or more 15.7% 15.3% Operating leveragefootnote 2 of 2% or more 0.4% (1.3)% BMO Financial Group has the longest-running dividend payout record of any company in Canada, at 196 years. BMO common shares had an annual dividend yield of 4.8% at October 31, 2024.
Compound annual growth rate
- 5.4% BMO 15-year
- 8.6% BMO 5-year
- footnote 1 detailsWe have established medium-term financial objectives for certain important performance measures. Medium-term is generally defined as three to five years, and performance is measured on an adjusted basis.
- footnote 2 detailsPrior to November 1, 2022, we presented adjusted revenue on a basis net of insurance claims, commissions and changes in policy benefit liabilities (CCPB) and operating leverage was calculated based on revenue, net of CCPB. Beginning fiscal 2023, we no longer report CCPB, given the adoption and retrospective application of IFRS 17, Insurance Contracts (IFRS 17). Revenue, net of CCPB, was $34,393 million in fiscal 2022 and $25,787 million in fiscal 2021. Measures and ratios presented on a basis net of CCPB are non-GAAP amounts. For further information, see the Non-GAAP and Other Financial Measures section of Management’s Discussion and Analysis (MD&A). Regarding the composition of non-GAAP and other financial measures, including supplementary financial measures, refer to the Glossary of Financial Terms in the MD&A.
- footnote 3 detailsThe 3-year EPS growth rate and operating leverage, net of CCPB, reflect compound annual growth rates (CAGR).
- footnote 4 detailsThe CET1 Ratio is disclosed in accordance with OSFI’s Capital Adequacy Requirements (CAR) Guideline.
- footnote 5 detailsAs of October 31, 2024.
- footnote 6 detailsPercentages determined excluding results in Corporate Services.
- Certain comparative figures have been reclassified to conform with the current year’s presentation.
- Bank of Montreal brands the organization’s member companies as BMO Financial Group. Note 27 of the consolidated financial statements lists the intercorporate relationships among Bank of Montreal and its significant subsidiaries.