BMO Has Made Progress in US Segment Turnaround
Bank of Montreal is the fourth-largest bank in Canada and one of six Canadian banks that collectively hold almost 90% of the nation's banking deposits. The bank has a well-established Canadian franchise, a solid US presence in the Midwest, and a growing California footprint. While BMO is not among the most dominant retail banks in Canada, its more commercially oriented loan book gives it a strong position in domestic commercial lending. BMO is also the second-largest exchange-traded fund provider in Canada. Although competition from BlackRock and Vanguard is intensifying, we expect continued growth in passive investing to support longer-term opportunities for leading players.
United States