Bank of Montreal 1998 Annual Report Download - page 4

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BMO AT A GLANCE
BANK OF MONTREAL GROUP OF COMPANIES
■Grew the mortgage portfolio by 15% to $35 billion.
■Announced agreements with The Great Atlantic and Pacific
Company of Canada Limited (A&P) and Canada Safeway
Limited
to open in-store branches.
■
Opened 10 in-store locations in fiscal 1998.
■
Implemented the Private Client Service Promise, providing
one-stop banking and uniformity of services.
■Redesigned commercial credit approval system to provide
sales and service capabilities.
■Improve technology and access channels to
enter new markets and reduce operating costs.
■Retain and grow customer relationships through
improved knowledge management.
■Elevate workforce competencies in the area of
customer service and sales management.
■Redesign key processes to deliver improved
customer service.
■Loan growth of 22% and growth in fee revenue of 39%.
■Double-digit growth in retail deposits – twice the market rate
of growth.
■Retail market share in Chicagoland has tripled from 2.7%
in 1994 to 8.2%.
■Consistently high customer satisfaction scores.
■Expanded trust services in Florida to full range of banking
services.
■Continue to expand our Midwest mid-market
corporate franchise.
■Develop retail franchise to become a dominant
force in the Chicago area.
■Grow wealth management business in the
Midwest, Arizona, Florida and nationwide.
■Continue structural cost reductions through
standardized processes and continued
integration
of North American operations.
■mbanx achieved a 95% customer satisfaction rating and added
over 50,000 clients for a total of 151,700.
■New Client Contact Centre strategy ensures the highest quality
of service across different channels.
■Enhanced MasterCard®*web site allows customers to check
balances and review transactions.
■Cebra’s Internet-based tendering service MERXTM*had strong
growth and currently has 200,000 government tender
documents on its web site.
■
Formed an alliance between our North American Cash
ManagementGroupandCheckFree
®1Corporation for automated
clearing house processing, creating greater economies of scale.
■Develop a deeper knowledge and understanding
of our customers.
■Continually look for innovative applications
of technology.
■Create customer-focused solutions through the
leveraging of technology and client information.
■Create value through strategic alliances as
a means of delivering the best customer
service possible.
■Maintained leading market share position in M&A advisory
business, block trading of Canadian equities and top
research ranking.
■Launched Nesbitt Burns Quadrant ProgramTM1 allowing
clients to custom tailor their portfolios.
■
Introduced Nesbitt Burns Mutual Fund Mosaic
TM1
,amutualfund
system that determines
optimal asset mix.
■Rolled out investore®Mobile, a money management store
on wheels.
■Participated in a significant number of large Corporate
Banking transactions.
■Solidify leading market share for specific
investment and corporate banking activities
in Canada.
■
Align all functions to better meet customer needs.
■Expand Global Corporate Bank.
■Integrate and expand all wealth management
products, services and channels.
■Develop enhanced derivative core competencies.
■Continue to grow the Merchant Bank.
■Consolidated enterprise-wide credit, market, operational and
liquidity risk management to optimize our risk and return profile.
■Finalized the segregation of the management of assets
originated from our Global Corporate Banking Group to Asset
Portfolio Management.
■Completed a US$3 billion collateralized loan obligation.
■Collateralized Bond Obligation Group ranks among the largest
high-yield managers in Canada.
■Integrated Trade Finance with Global Financial Institutions
and Governments.
■
Establish a “best in class” Risk Management Group.
■
Asset Portfolio Management Group to pro-actively
manage corporate assets, using state-of-the-art
portfolio management methodology.
■Continue to grow collateralized bond obligation
portfolio during fiscal 1999.
■Provide value-added sales and distribution
services for Global Financial Institutions and
Government clients and grow Trade Finance
businesses with North American importers
and exporters.
HIGHLIGHTS STRATEGYVOLUME
*GROWTH
9897969594
63.4
58.7
55.3
52.4
48.9
9897969594
31.1
25.8
23.0
20.5
16.9
9897969594
10.2
7. 7
6.0
5.1
4.5
9897969594
95.4
80.6
53.6
45.6
32.7
9897969594
Note: including guarantees and standby
letters of credit
40.3
30.0
22.9
22.0
19.4
BANK OF MONTREAL IS A HIGHLY DIVERSIFIED FINANCIAL SERVICES
INSTITUTION OFFERING A FULL RANGE OF PRODUCTS AND SERVICES
IN ALL THREE NAFTA COUNTRIES. THESE ARE THE OPERATING DIVISIONS
THAT MAKE UP THE BANK OF MONTREAL GROUP OF COMPANIES:
*Average assets ($ billions)