One of the five dominant universal banks in Canada Very good diversification by product, geography, and business line Strong credit risk management infrastructure Strong risk-adjusted capital ratios Established U.S. beachhead with its Chicago footprint Weak stature of market risk management Erosion of market share in its retail business in Canada Difficult economic and competitive environment for U.S. P&C bank The ratings on Bank of Montreal (BMO) reflect its position as one of the five dominant universal banks in Canada, its well-diversified business base, solid credit risk management infrastructure, strong risk-adjusted capital ratios, and good toehold into the U.S. market. The ratings are constrained by the weak stature of its market risk management and the ongoing erosion of market share in
