The Bank of Montreal is a Canadian multinational investment bank and financial services company.
Founded in Montreal, Quebec, in 1817 as Montreal Bank, its head office remains in Montreal, with its operational headquarters and executive offices in Toronto, Ontario, since 1977.
One of the Big Five banks in Canada, it is the fourth-largest bank in Canada by market capitalization and assets, as well as one of the ten largest banks in North America. It is commonly known by its acronym BMO, which is also its stock symbol on both the Toronto Stock Exchange and the New York Stock Exchange.
On 23 June 1817, John Richardson and eight merchants signed the Articles of Association to establish the Montreal Bank in a rented house in Montreal, Quebec. The bank officially began conducting business on 3 November 1817, making it Canada’s oldest bank.
It underwent a name change to its current in 1822. BMO’s Institution Number (or bank number) is 001. In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers.
In the United States, it does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Harris Bank. BMO Capital Markets is BMO’s investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns. The company is ranked at number 131 on the Forbes Global 2000 list.
The company has not missed a dividend payment since 1829, paying dividends consistently through major world crises such as World War I, the Great Depression, World War II, and the 2008 financial crisis; this makes the Bank of Montreal’s dividend payment history one of the longest in the world.
Traded as: TSX: BMO; NYSE: BMO
Industry: Financial services
Founded:
As Montreal Bank: 23 June 1817; 203 years ago in Montreal, Lower Canada
As Bank of Montreal: 1822; 198 years ago in Montreal, Lower Canada
Headquarters: Montreal, Quebec, Canada Toronto, Ontario, Canada
Subsidiaries:
- BMO Capital Markets
- BMO Harris Bank
- BMO Nesbitt Burns
Website: