Bank of Montreal

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
18 June 2013 -- BMO Bank of Montreal (NYSE: BMO) said it has opened its relocated full-service banking branch in Abbotsford, British Columbia, Canada.
BMO Bank of Montreal, a unit of BMO Financial Group, Toronto, released this finding in a summary of results from a new poll of 1,000 Canadians.
Andrew Irvine, head of customer solutions, Canadian Personal & Business Banking, BMO Bank of Montreal, said, 'We are proud to help foster conversation about what is needed to create better opportunities for Canadian female entrepreneurs.
We sponsored this report to debunk how women are being perceived and explore how we can lead the industry to do better," explained Susan Brown, senior vice-president and head of BMO Women's Strategy, BMO Bank of Montreal. "Support of these businesses is essential to fostering Canadian economic development and to help grow the billions of dollars and innovations their businesses already generate.
But affordability is a major concern for these first-time buyers, according to a new report released by BMO Bank of Montreal and conducted by Pollara.
Andrew Irvine, head, Canadian Business Banking & BMO Partners, BMO Bank of Montreal, said, 'The talented entrepreneurs that we get the chance to work with through this program have so much to offer to our industry.
"Canadian businesses are continually increasing in value: not only in an everyday, tangible sense, but in what the business brings to the entire family," says Steve Murphy, senior vice president, commercial banking, BMO Bank of Montreal. "With many Canadian business owners on the cusp of retirement and their businesses thriving, creating a succession plan should be a priority to ensure their hard-earned success continues in the way they envision it."
28 August 2012 - BMO Bank of Montreal (TSX: BMO) was honoured by global market research firm Ipsos in two customer service categories.
Canada-based BMO Bank of Montreal (NYSE: BMO) is planning to invest in The Perimeter Institute for Theoretical Physics.
Andrew Irvine, head, Canadian Business Banking & BMO Partners, BMO Bank of Montreal, said, 'Innovation and continuously evolving with our customers' needs is a constant driver for all that we do at BMO, which is why this expanded partnership with the DMZ is a natural fit.
"We're proud to support JA Central Ontario in their efforts to encourage future business leaders through the Bold Thinkers Inspiring Leaders initiative," said Russ Robertson, Executive Vice-president and Head, Anti-Money Laundering, BMO Bank of Montreal. "At BMO, we're committed to providing youth in our communities with opportunities to develop the skills they need to be successful.