Bank Of Montreal And Its Diverse Services To Clients

Written By: Traci Dillon on August 13, 2010 No Comment

Bank of Montreal headquarters is situated in Toronto which is a city in Canada. It started its operations in Montreal city. Being almost two hundred years old makes it Canada’s oldest bank. It ranks as the 4th largest financial institution in Canada. This is based on the deposits it possesses.

BMO as it is popularly known has over 900 branches. It has more than 7 million clients. Although its operations are mainly in Canada, it has other branches in Chicago and also other areas of USA.

There are 3 main divisions of the financial services offered by this bank. The three categories are known as ‘client groups’. This name comes from the fact that each of the groups serves and targets a market segment that is different from the other.

The first group is personal and commercial client group. This is the section that handles the bank’s retail banking. It provides banking services to individuals and businesses in Canada. These services include savings, handling checks, mortgages, personal loans, debit cards and credit card services among others.

This section also handles insurance services offered by the bank. These include life insurance and travel insurance. It also offers income annuities for those interested in saving for retirement. Mortgage life insurance is also offered to protect the home upon the death of the insured.

Then there is investment banking group which handles the capital markets. This handles equity, securities and bond markets among others. The government and corporate companies are the main beneficiaries here. They get financial advice on how to invest in order to reap maximum benefits from their investments.

Private client group is the third category. It is also known as wealth management section. This department targets customers with a large asset base. Such clients are assisted in planning their estates. They are also helped to invest these assets according to individual criteria and financial goals. The department gives advisory services in the United States also.

BMO has a strong corporate social responsibility. Through sponsorships, donations and volunteering, it is able to invest in the neighborhoods. It makes donations to programs supporting culture, arts, health and education. Programs that support sports, community development and athletics are also sponsored. The bank also funds projects supporting environment protection and conservation.

Bank of Montreal gives affordable and accessible financial services to customers. The customer has a variety of services to select from. Potential clients can reach them online for answers to any queries that they may have.

BMO is one of the top Canadian financial institutions. Learn interesting facts about Bank of Montreal and other Canadian Banks at Canadian Banking Guide.