05.28.26

BMO Says It's Finished Reconfiguration of US Segment

by: Alissa Kline

BMO Financial Group said it has completed a major reconfiguration of its U.S. banking business aimed at improving profitability and positioning the company for future growth. CEO Darryl White said the bank has reached an “inflection point” after selling lower-return businesses, including credit card and franchise loan portfolios, and divesting 138 branches in slower-growth Midwestern markets. BMO is now focusing on higher-growth regions, particularly California, following its 2023 acquisition of Bank of the West. The bank plans to expand in California and Arizona, opening dozens of new branches over the next several years.

Read the full article on American Banker