One of the five dominant universal banks in Canada Very good diversification by product, geography, and business line Strong risk-adjusted capital ratios Good credit risk management infrastructure Established U.S. beachhead with its Chicago footprint Negative operating performance in its U.S. line of business Market share pressure in its retail business in Canada Transitional phase in enterprise risk management The ratings on Bank of Montreal (BMO) reflect our assessment of its position as one of the five dominant universal banks in Canada, its well-diversified business base, strong risk-adjusted capital ratios, good credit risk management infrastructure, and good toehold into the U.S. market. Our view of the poor performance of its U.S. operations, ongoing pressure on market share in its retail business
