Bank of Montreal 2004 Annual Report Download - page 12

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BMO Financial Group Annual Report 20048
Canadian Operations
Through our relentless focus on building lasting relationships by providing
our clients with exceptional service that responds to their individual
needs, we believe that we will continue to grow profits in our core established
businesses in Canada. Here are some highlights from 2004.
#1
BMO InvestorLine again earned the
top position in The Globe and Mail’s
annual ranking of online brokers.
#1
For the 24th consecutive year,
our BMO Nesbitt Burns Research
Group was recognized as the top
overall equity research team
by Brendan Wood International.
Its 2004 survey was the most
extensive ever, based on evaluations
by more than 250 of Canada’s
largest institutional investors.
The Business of Relationships
We understand that our business
cus
tomers have highly specialized needs,
and
our strategy is to make sure they
are each offered a tailored approach
to achieving their goals. For example,
self-employed business owners now
have a better way to finance their home
purchases with the launch of BMO Bank
of Montreal’s Self-employed Homeowner
Mortgage program. This new
product
allows customers whose incomes are
based on commissions or self-employ-
ment to secure a mortgage primarily
on the strength of their personal credit
rating and overall financial situation,
with less emphasis on their business
financial statements.
Meeting Customer Needs
In 2004, our Canadian personal and
commercial group moved closer to the
goal of being the only financial services
provider our customers will ever need.
The year’s advances included the
first release of BMO Connect, a multi-
year program that will enhance our
front-line capabilities with its fully
integrated, end-to-end sales and service
processes and tools – enabling client-
facing and client-supporting staff
to initiate, manage and track sales
opportunities, referrals and customer
service requests across locations
and channels. BMO Connect greatly
improves our ability to provide our
customers with consistently superior
banking experiences, no matter
which channel they choose.
We are already seeing the benefits
of introducing automated workflow
capabilities linking sales, service and
support staff. We are able to provide
same-day responses to many customer
service requests, for example, that
would often have taken more than
a week to complete. The new system
will free up more time for responses
to other customer needs.
Business Overview
Mosaik®MasterCard®2Rewards Customers Faster
The new Gold WestJet 1/$15 Air Miles
®
3
Reward
Option from Mosaik MasterCard partners
BMO Bank of Montreal, the Air Miles Reward
Program and WestJet. This new partnership
provides personal and business cardholders
with exclusive rewards – one Air Miles reward
mile for every $15 spent – plus exclusive Air
Miles savings when reward miles are redeemed
for WestJet
®
4
flights.
200420032002
Deposit Growth
(Canadian $ in billions) (%)
34.5
37.3
40.7
BMO’s Canadian personal and commercial deposits
continued to show good growth, increasing 9.1%
in 2004 to $40.7 billion.