Bank of Montreal


Also found in: Acronyms, Wikipedia.

Bank of Montreal

 

one of the largest banks in Canada. Founded in 1817.

Until 1935 the Bank of Montreal combined issue functions with the functions of a commercial bank. It absorbed many banks. In 1958, together with Britain’s Bank of London and South America it organized the Bank of London and Montreal, which has more than 40 branches in a number of Latin American countries. In 1964 Barclay’s Bank obtained one-third of the shares of this bank. The Bank of Montreal is closely tied in personal union with English and American capital, large insurance companies, and large industrial companies which mine nonferrous metals, produce nickel and steel, drill for oil, and so on. The bank (in 1969) had over 1,000 branches in Canada, two in London, five in the USA, representatives in Paris, Düsseldorf, Milan, Mexico City, and Tokyo, and six field branches for serving Canadian forces in the Federal Republic of Germany. As of Nov. 1, 1969, the joint-stock capital of the bank consisted of $68 million (Canadian dollars), a reserve of $248 million, a balance of $8.2 billion, deposits of $7.5 billion, investments in government paper of $1.1 billion, other paper of $210 million, and loans of $4.5 billion.

References in periodicals archive ?
That has made lenders like Bank of Montreal monitored by a stringent regulator and is well capitalised, more attractive for institutions in the region to partner with.
BMO Bank of Montreal has taken the lead in introducing this fast and secure payment method to Canadians.
The initial feedback on Veev has been overwhelmingly positive," says Jeffrey Chisholm, vice chair, Personal and Commercial Client Group, Bank of Montreal.
1257 shares of Bank of Montreal common stock for each share of Marshall & Ilsley/MI common stock they hold.
Payment of the redemption price will be made by Bank of Montreal on or after May 25, 2015, upon surrender of the Preferred Shares Series 13.
28125 per share on paid-up Class B Preferred Shares Series 13 of Bank of Montreal.
00 cents a share on paid-up Bank of Montreal Class B Preferred Shares Series 4, a dividend of 33.
These ratings reflect Bank of Montreal Insurance's strong and consistent operating performance, excellent capitalization and favorable liquidity position.
Payment of the redemption price will be made by Bank of Montreal on or after April 22, 2015, upon surrender of the debentures.
28 /PRNewswire-FirstCall/ -- The Board of Directors of Bank of Montreal today declared a quarterly dividend of 65 cents a share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2007, up 3 cents from the previous quarter.
NEW YORK -- Fitch Ratings has affirmed all ratings for the Bank of Montreal (BMO) and its principal banking subsidiaries, including the long-term Issuer Default Rating of 'AA-'.
Global Banking News-March 11, 2015--UBS hires banking team from Bank of Montreal