09:16:16 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Montreal
Symbol BMO
Shares Issued 647,841,881
Close 2018-01-22 C$ 104.70
Market Cap C$ 67,829,044,941
Recent Sedar Documents

BMO hypes signing of MOU with Bank of China

2018-01-22 08:09 ET - News Release

Ms. Amanda Robinson reports

BMO AND ICBC COOPERATE TO EXPAND PRODUCT OFFERINGS AND DISTRIBUTION OPPORTUNITIES

Bank of Montreal and Industrial and Commercial Bank of China Ltd. (ICBC) have signed a broad-ranging memorandum of understanding (MOU), with the goal of leveraging their complementary geographic footprints and capabilities, to the benefit of customers of both institutions.

The agreement covers many areas including asset management, corporate and project financing, trade finance, cross-border renminbi co-operation, and best practice sharing of fraud reduction techniques. The signing of the memorandum was witnessed by BMO vice-chair David Jacobson and ICBC senior executive vice-president Dr. Hu Hao.

"This arrangement creates a special opportunity for our two institutions to build on a historic partnership and work together to explore unique synergies, such as combining BMO's award-winning global suite of investment products with the reach of ICBC -- the world's largest bank -- in China, Canada and beyond," said Gilles Ouellette, group head, BMO Asset Management, and vice-chair, international, BMO Financial Group. "We look forward to leveraging the MOU to build on a number of opportunities, including our asset management capabilities and other areas."

About BMO in Asia

BMO has a long history of doing business in Asia, especially in China. BMO is currently the only Canadian and one of five North American banks with an established subsidiary bank in Mainland China. BMO's offices in Asia allow the bank the flexibility to expand its product and service offerings for North American and Asian clients.

About Bank of Montreal

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider -- the eighth-largest bank, by assets, in North America. With total assets of $710-billion as of Oct. 31, 2017, and more than 45,000 employees, BMO provides a broad range of personal and commercial banking, wealth management, and investment banking products and services to more than 12 million customers and conducts business through three operating groups: personal and commercial banking, wealth management, and BMO Capital Markets.

© 2024 Canjex Publishing Ltd. All rights reserved.