The Full Form of BMO is Bank of Montreal.
The Bank of Montreal (French: Banque de Montréal) is a Canadian multinational investment bank and financial services company. Founded in Montreal, Quebec, in 1817 as Montreal Bank, its head office remains in Montreal, with its operational headquarters and executive offices in Toronto, Ontario, since 1977. One of the Big Five banks in Canada, it is the fourth-largest bank in Canada by market capitalization and assets, as well as one of the ten largest banks in North America. It is commonly known by its acronym BMO (pronounced /ˈbiːmoʊ/), which is also its stock symbol on both the Toronto Stock Exchange and the New York Stock Exchange.
On 23 June 1817, John Richardson and eight merchants signed the Articles of Association to establish the Montreal Bank in a rented house in Montreal, Quebec. The bank officially began conducting business on 3 November 1817, making it Canada’s oldest bank.It underwent a name change to its current in 1822. BMO’s Institution Number (or bank number) is 001. In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers. In the United States, it does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Harris Bank. BMO Capital Markets is BMO’s investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns. The company is ranked at number 131 on the Forbes Global 2000 list.
The company has not missed a dividend payment since 1829, paying dividends consistently through major world crises such as World War I, the Great Depression, World War II, and the 2008 financial crisis; this makes the Bank of Montreal’s dividend payment history one of the longest in the world.
We’re proud to be fueling growth and expanding possibilities for individuals, families and businesses. More than 12 million customers count on us for personal and commercial banking, wealth management and investment services. As the 8th largest bank, by assets, in North America, we help our customers make the most of their money. In Canada, the United States and across the globe, we’ll continue to build, invest and transform to drive performance that serves the good that grows.
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