Bank of Montreal (BMO) is targeting market share growth in
Canada and is eying to continue the growth in North America, the
chief executive of the bank, Bill Downe, said.
Downe said: “With 2010 revenues up 10 per cent and record net
income for the year, P&C Canada is a market leader and a
pacesetter for our entire enterprise. With BMO’s P&C Canada
business now so well positioned, expanding our home market to
include the central US.is a natural next step.”
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Canada-based BMO bought US-based Marshall & Illsley
Corporation last year and is seeking to accelerate its business in
the market.
Downe said that the bank is targeting $1bn in annual earnings
from its P&C and wealth management services in the US in the
medium-term.
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