# BMO

> BMO is Canada's first bank turned continent-scale financial supermarket: a 208-year-old institution serving 13 million customers through consumer and commercial banking, wealth management and capital markets. Its recent story is less about age than allocation - a US$13.8 billion western U.S. acquisition, a difficult two-million-customer conversion, heavy integration costs, and a sharper plan to sell 138 branches while opening 150 where the bank believes density will pay.

- **Founded:** 1817
- **Headquarters:** Toronto, Canada
- **Founders:** John Richardson (Co-founder and founding committee chair), Robert Armour (Co-founder), John C. Bush (Co-founder), Austin Cuvillier (Co-founder), George Garden (Co-founder), Horatio Gates (Co-founder), James Leslie (Co-founder), George Moffatt (Co-founder), Thomas A. Turner (Co-founder)
- **Team size:** Approximately 54,000 employees (company-provided lead data; public reporting varies by date and full-time-equivalent basis)
- **Products:** Canadian Personal and Commercial Banking, U.S. Banking, BMO Wealth Management, BMO Capital Markets, BMO Sync
- **Notable:** Founded in 1817 as Canada's first permanent bank., Grew to the eighth-largest bank in North America by assets, reporting C$1.5 trillion as of January 31, 2026., Completed the US$13.8 billion acquisition of Bank of the West in February 2023.

## Products & services

- **Canadian Personal and Commercial Banking** — Deposits, cards, mortgages, loans, payments and advice for individuals, small businesses and commercial clients in Canada.
- **U.S. Banking** — Personal, business and commercial banking delivered through branches, contact centres, digital platforms and nationwide ATM access.
- **BMO Wealth Management** — Private banking, brokerage, asset management, insurance, tax, estate and succession planning for individuals, families, owners and institutions.
- **BMO Capital Markets** — Investment banking, corporate banking, research and global markets services for corporations, institutions and governments.
- **BMO Sync** — Embedded banking that connects payments, balances and reconciliation to ERP and accounting systems including QuickBooks Online and Sage Intacct.
- **BMO My Financial Progress** — A digital goal-planning experience in mobile and online banking with adaptive plans and personalized insights.
- **Lumi Assistant** — A generative-AI assistant that gives frontline employees faster access to policies, procedures and resources.
- **BMO Climate Institute** — A centre connecting finance, science, policy and economics to support client decisions on decarbonization, resilience and biodiversity.

## Achievements

- Founded in 1817 as Canada's first permanent bank.
- Grew to the eighth-largest bank in North America by assets, reporting C$1.5 trillion as of January 31, 2026.
- Completed the US$13.8 billion acquisition of Bank of the West in February 2023.
- Converted roughly two million Bank of the West customers in what BMO called the largest conversion in Canadian banking history.
- Reported fiscal 2025 revenue of C$36.274 billion and net income of C$8.725 billion.
- Received 11 recognitions across the 2025 Digital Banker and Qorus-Infosys Finacle programs for AI and digital work.
- Reached 4.913 million active retail digital users and 358,000 active commercial digital users in Q4 2025.
- Issued early Canadian currency and helped finance canals, telegraphs and the Canadian Pacific transcontinental railway.

## Latest updates

- **2026-05** — BMO reported second-quarter 2026 results and continued executing its profitability and growth agenda.
- **2026-04** — BMO highlighted new AI and quantum initiatives, including joining the IBM Quantum Network as the first Canadian bank member.
- **2026-02** — First-quarter reported net income rose to C$2.49 billion; U.S. Banking reported net income increased 17% year over year to C$742 million.
- **2025-10** — BMO agreed to sell 138 U.S. branches while planning 150 new branches over five years, concentrated in core growth markets including California.
- **2025-10** — BMO announced 11 AI and digital innovation honors for products including Lumi, My Financial Progress, FundsNow and Next Best Offer.
- **2025-02** — BMO and FISPAN launched BMO Sync in Canada and the U.S., connecting business banking to ERP and accounting tools.

## Links

- Website: https://www.bmo.com/
- LinkedIn: https://www.linkedin.com/company/bank-of-montreal
- Twitter/X: https://twitter.com/bmo
- Facebook: https://facebook.com/BMOcommunity/

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Profile page: https://yespress.io/bmo
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Last updated: 2026-08-23