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BMO-News
BMO-Events
Los Angeles Lakers Partner with BMO as Exclusive Official Bank
The Los Angeles Lakers and BMO announced a long-term partnership naming BMO the exclusive Official Bank of the Los Angeles Lakers. "Over decades, the Lakers have built passionate, generational fandom that starts in Los Angeles and extends everywhere, giving brands access to a star-studded platform of championships and glamour," said Los Angeles Lakers President and Chief Business Officer Lon Rosen. "Today, we are proud to extend that access to BMO with an extensive, high-value partnership that names BMO the exclusive official bank of the Los Angeles Lakers. Importantly, this landmark partnership signals a paradigm shift for how the Lakers will partner with brands moving forward, building and curating impactful programs to engage fans and serve shared businesses."
BMO Renews Multi-Year Partnership with Northern Super League
BMO and the Northern Super League, NSL, announced a multi-year renewal of their partnership. As the Official Bank of the NSL and Presenting Sponsor of NSL broadcasts across all platforms, BMO will continue to play a leading role in growing the visibility and reach of Canada's first professional women's soccer league. "At BMO, we believe in the power of sport to inspire confidence, create opportunity and bring communities together," said Catherine Roche, Chief Marketing and Communications Officer, BMO. "The Northern Super League is helping transform the landscape of women's soccer in Canada by creating opportunities for athletes to compete and thrive at the highest level at home. We're proud to renew our partnership and continue investing in the future of the game, while helping create pathways for the next generation of players, leaders and storytellers in sport."
Company Plans New NCIB to Repurchase 25M Shares
The company announced our intention to establish a new NCIB for up to 25M common shares, subject to the approval of the Office of the Superintendent of Financial Institutions and the Toronto Stock Exchange. Once approvals are obtained, the timing and amount of purchases under the new NCIB will be at management's discretion, based on factors such as market conditions and capital levels.
BMO Financial Group Reports Q3 Revenue of C$9.9B
Reports Q3 revenue C$9.9B, consensus C$9.79B. "BMO delivered another strong quarter, driven by disciplined execution against the commitments we made at our March Investor Day to elevate ROE and accelerate growth. Every business segment delivered record pre-provision pre-tax earnings, with sustained momentum in Capital Markets and Wealth Management, and continued commercial loan growth in both Canada and the U.S. as we deepen client relationships across our franchise. Credit performance improved, reflecting our proactive risk management and well-diversified portfolio," said Darryl White, CEO of BMO Financial Group.
Bank of Montreal and Royal Bank of Canada Sell Moneris for Approximately $2B
Bank of Montreal (BMO) announced that together with Royal Bank of Canada (RY), it has entered into an agreement for the sale of jointly-owned Moneris Solutions for cash consideration of approximately $2B, of which BMO's share is 50%. Concurrent with the closing of the transaction, BMO and RBC will enter into new exclusive, long-term referral arrangements with Moneris. The transaction marks the next chapter for Moneris, positioning the business to accelerate its strategy and continue delivering value to Canadian businesses. BMO and RBC will maintain their relationships with Moneris through exclusive customer referral arrangements. BMO expects to record a gain on closing of approximately $600M after-tax, which will be recorded in non-interest revenue in corporate services as an adjusting item. On a pro forma basis, the transaction is expected to improve the bank's CET1 ratio by approximately 15 bps. The transaction is not expected to have a significant impact on the bank's future run rate earnings. The transaction is expected to close by the end of the first quarter of fiscal year 2027, subject to customary closing conditions, including receipt of required regulatory approvals.
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