BANK OF MONTREAL (BMO) 96.73 -2.6 (-2.62%)
96.73 -2.6 (-2.62%)
CA0636711016 - Common Stock
Bank of Montreal rolls out new digital credit card installment plan feature (NYSE:BMO)
In an effort to increase financial flexibility for its Canadian retail credit card customers, Bank of Montreal (BMO) has launched a new digital credit card installment plan solution,...
Bank of Montreal Announces the Reverse Split of Two Series of ETNs
/PRNewswire/ - Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it will implement a reverse split of the ETNs listed in the table below, expected to...
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PRESS DIGEST-Canada - Nov 9
The following are the top stories from selected Canadian newspapers. - A jury in a Minnesota bankruptcy court has found the U.S. arm of Bank of Montreal liable for $564 million dollars in damages in a lawsuit related to one of the largest Ponzi schemes in history, and the bank will take a $1.1 billion dollars charge as it prepares to appeal the decision. - The Canadian Competition Bureau received more than 7,000 public comments regarding the proposed 26 billion Canadian dollars ($19.33 billion) merger between Rogers Communications Inc and Shaw Communications Inc, many of them expressing opposition to the deal, the Competition Tribunal heard on Tuesday.
UPDATE 1-Canada's BMO books $834 mln charge over U.S. Ponzi lawsuit loss
A U.S. jury on Tuesday found a local unit of Canada's Bank of Montreal (BMO) liable for over $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book a charge of C$1.12 billion ($834.2 million). Thomas Petters was found guilty in 2009 of orchestrating a $3.65 billion Ponzi scheme and sentenced to 50 years in prison. The lawsuit in Minnesota sought to recoup nearly $2 billion based on sums Petters transferred from an account at Marshall & Ilsley Bank, which BMO bought in 2011.
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Canada's BMO books $834 mln charge over U.S. Ponzi lawsuit
A jury in the United States on Tuesday found Canada's Bank of Montreal's U.S. unit liable to pay more than $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book an overall charge of C$1.12 billion ($834.2 million).
Canada's BMO books $834 million charge over U.S. Ponzi lawsuit
A federal jury in 2009 had found the businessman, Thomas Petters, guilty of orchestrating a $3.65 billion Ponzi scheme, and he was sentenced to 50 years in prison. The lawsuit in Minnesota sought to recoup nearly $2 billion in damages based on sums transferred by Petters from an account at Marshall & Ilsley Bank, which Bank of Montreal bought in 2011 and assumed its liability.
Canada's BMO books $834 mln charge over U.S. Ponzi lawsuit
A jury in the United States on Tuesday found Canada's Bank of Montreal's U.S. unit liable to pay more than $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book an overall charge of C$1.12 billion ($834.2 million). A federal jury in 2009 had found the businessman, Thomas Petters, guilty of orchestrating a $3.65 billion Ponzi scheme, and he was sentenced to 50 years in prison. The lawsuit in Minnesota sought to recoup nearly $2 billion in damages based on sums transferred by Petters from an account at Marshall & Ilsley Bank, which Bank of Montreal bought in 2011 and assumed its liability.
BMO Harris to Appeal Verdict in Petters Litigation
/CNW/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) announced today that its subsidiary, BMO Harris Bank N.A. (BMO Harris) intends to pursue all available legal...
BMO Harris to Appeal Verdict in Petters Litigation
/PRNewswire/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) announced today that its subsidiary, BMO Harris Bank N.A. (BMO Harris) intends to pursue all...
UPDATE 1-HSBC's Canada unit loses National Bank, CIBC as bidders, Global and Mail reports
National Bank of Canada and Canadian Imperial Bank of Commerce (CIBC) have dropped out as bidders for HSBC Holdings PLC's business in Canada, while Bank of Montreal is still pursuing the deal, according to a report in The Globe and Mail newspaper. HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued at around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion). The Globe and Mail, in its report on Friday, quoted sources familiar with the process as saying that the field of contenders to acquire HSBC Bank Canada from the British lender was narrowing.
HSBC's Canada unit loses National Bank, CIBC as bidders, Global and Mail reports
HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion). The Globe and Mail, in its report on Friday, quoted sources familiar with the process as saying that the field of contenders to acquire HSBC Bank Canada from the British lender was narrowing. Lawyers and analysts have said Canada's concentrated banking market could discourage big domestic banks from bidding as the government has charged the antitrust regulator to push for more competition.
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HSBC's Canada unit loses National Bank, CIBC as bidders, Global and Mail reports
National Bank of Canada and Canadian Imperial Bank of Commerce (CIBC) have dropped out as bidders for HSBC Holdings PLC's business in Canada, while Bank of Montreal is still pursuing the deal, according to a report in The Globe and Mail newspaper.
BMO to Buy Carbon Credits From Amazon-Backed Technology Company
Bank of Montreal agreed to buy carbon credits from CarbonCure Technologies Inc., a company backed by investors including Amazon.com Inc.
Bank of Montreal Announces the Reverse Split of Three Series of ETNs
/PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it will implement a reverse split of the ETNs listed in the table below, expected...
2 Ultra-High-Yield Financial Stocks to Buy Hand Over Fist and 1 to Avoid
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Bank of Montreal Announces Subordinated Note Issue
/CNW/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced a domestic public offering of $750 million of subordinated notes (Non-Viability Contingent...
Why JPMorgan Chase's Stock Is Rising After a Wall Street Upgrade
An analyst provided some bullish sentiment for the stock this morning.
Financial Guarantee Market Business Strategies, Acquisitions, Revenue Analysis Share, Forecast to 2028 | by Asian Development Bank, Bank of Montreal, Citibank
Continue reading "Financial Guarantee Market Business Strategies, Acquisitions, Revenue Analysis Share, Forecast to 2028 | by Asian Development Bank, Bank of Montreal, Citibank"
BMO Fixed Income Head Sees ‘99.9%’ Odds of Fed-Induced Recession
It will be nearly impossible for the North American economy to avoid a recession because interest rates will have to rise much higher to quell inflation, according to the head of fixed income at Bank of Montreal’s fund management division.
BMO Capital Markets Is Cutting Jobs After Downturn in Business
Bank of Montreal’s capital-markets division is cutting jobs across its businesses and locations in response to weakening market conditions, according to people familiar with the matter.
Bank of Montreal Announces AT1 Limited Recourse Capital Notes Issue
/CNW/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) (or the "Bank") today announced the offering of CAD $1 billion of non-viability contingent capital ("NVCC")...
Media Advisory - BMO CFO Tayfun Tuzun to Speak at the Barclays Global Financial Services Conference
/CNW/ - Tayfun Tuzun, Chief Financial Officer, BMO Financial Group (TSX: BMO) (NYSE: BMO), will participate in the Barclays Global Financial Services...
Media Advisory - BMO CEO Darryl White to Speak at the Scotiabank Financials Summit
/CNW/ - Darryl White, Chief Executive Officer, BMO Financial Group (TSX: BMO) (NYSE: BMO), will participate in the Scotiabank Financials Summit on September 7,...
UPDATE 1-Canadian banks brace for uncertainties after mixed quarter
Bank of Montreal (BMO) closed out a mixed quarter for Canada's biggest banks on Tuesday, with investors and analysts expecting some earnings drivers to ebb and economic uncertainties to increase in future quarters. Three of Canada's Big Six banks have missed expectations driven in part by challenges in their capital markets operations. The other three beat expectations as loan growth remained strong and margins expanded.
Canadian banks brace for uncertainties after mixed quarter
Bank of Montreal (BMO) closed out a mixed quarter for Canada's biggest banks on Tuesday, with investors and analysts expecting some earnings drivers to ebb and economic uncertainties to increase in future quarters. BMO missed analysts' estimates for third-quarter profit and reported a decline in earnings from a year earlier as revenue from its capital markets business slumped and it increased provisions for credit losses. Three of Canada's Big Six banks have missed expectations driven in part by challenges in their capital markets operations.
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Canadian banks brace for uncertainties after mixed quarter
Bank of Montreal (BMO) closed out a mixed quarter for Canada's biggest banks on Tuesday, with investors and analysts expecting some earnings drivers to ebb and economic uncertainties to increase in future quarters.
CANADA STOCKS-TSX futures edge higher; Bank of Montreal profit drop dents sentiment
Futures for Canada's main stock index rose on Tuesday, tracking an uptick in global shares, though dour earnings from Bank of Montreal and weakness in crude prices kept gains in check. Crude prices tumbled on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Gold and other precious metal prices were pressured by expectations of more interest rate hikes by the U.S. Federal Reserve.