BMO (Bank of Montreal) Financial Strength (2024)

FAQs

BMO (Bank of Montreal) Financial Strength? ›

Fitch

What is Bank of Montreal Financial Strength? Bank of Montreal has the Financial Strength Rank of 3.

Well-established financial institution with a long history. Well-reviewed mobile app. Big selection of personal and business accounts. Impressive roster of credit cards.

Established Deposit Franchise: BMO's funding & liquidity profile is stable and in line with peers. With a loans-to-deposit ratio of 93.4% (2Q24), the bank is primarily deposit funded with core customer deposits making up most of its funding profile.

What Are the Big Five Banks? The Big Five Banks is a term used in Canada to describe the five largest banks: Royal Bank, Toronto-Dominion Bank, the Bank of Montreal, the Canadian Imperial Bank of Commerce, and the Bank of Nova Scotia.

Is BMO a reliable bank? BMO is a well-established national bank with over 1,000 branches across 32 U.S. states. Deposits made to BMO accounts are FDIC-insured (FDIC certificate No. 16571) up to $250,000 per depositor, for each account ownership category, in the event of bank failure.

BMO was also ranked the third largest bank in the country and 43^rd in the world.

Yes, all BMO Alto accounts are FDIC insured. Visit www.fdic.gov for current deposit insurance limits.

What bank owns BMO? ›

It is the U.S. subsidiary of the Toronto-based multinational investment bank and financial services company Bank of Montreal, which owns it through the holding company BMO Financial Corporation (formerly Bankmont Financial Corporation, then Harris Financial Corporation).

BMO is a highly diversified financial services provider, globally minded and socially conscious, with a deep sense of purpose and a clear strategy for long-term growth.

BMO Bank of Montreal has an edge over TD when it comes to savings accounts. TD's high interest savings accounts require a minimum balance of $5,000 to $10,000 before they bear interest. BMO has better interest rates and no minimum balance.

One drawback of a BMO CD is the early withdrawal penalties. If you withdraw your principal before the CD term is over, you'll pay fees in the form of earned interest.

Yes, all BMO Alto Online Savings Accounts are FDIC insured. Please visit www.fdic.gov for current deposit insurance limits.

Overall, BMO offers enough benefits, accounts and services to make it an attractive banking option for most consumers. It's an especially good bank if you plan to take advantage of services beyond just bank accounts.

Based on the latest financial disclosure, Bank of Montreal has a Probability Of Bankruptcy of 9.0%.

BMO is a highly diversified financial services provider, globally minded and socially conscious, with a deep sense of purpose and a clear strategy for long-term growth.