Bank of Montreal 2014 Annual Report Download - page 34

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MD&A
Canadian Personal and Commercial Banking
Canadian Personal and Commercial Banking provides a full range of financial
products and services to more than seven million customers. We’re here to help
our customers make the right financial decisions as they do business with us
through their channel of choice: in our branches, on their mobile devices, online,
over the telephone, and through our automated banking machines.
Cameron Fowler
Group Head
Canadian Personal and Commercial Banking
BMO Financial Group
Lines of Business
Personal Banking provides customers with a wide range of products and
services, including chequing and savings accounts, credit cards, mortgages,
creditor insurance and everyday financial and investment advice.
Commercial Banking provides small business and commercial banking
customers with a broad suite of commercial products and services,
including business deposit accounts, commercial credit cards, business
loans and commercial mortgages, cash management solutions, foreign
exchange and specialized banking programs.
Strengths and Value Drivers
‰Highly engaged team of 16,000 employees focused on anticipating
customers’ needs, finding ways to help and providing a personalized
banking experience.
‰Award-winning mobile and online banking services.
‰Largest MasterCard®issuer in Canada as measured by transaction
volumes, and one of the top commercial card issuers in North
America.
‰Highly experienced team of commercial bankers with deep knowl-
edge; specialized banking programs, including Automotive Finance for
Dealerships, Agriculture, Healthcare and Franchising.
‰Strong competitive position in commercial banking, reflected in our
number two ranking in market share for business loans of $25 million
and less.
‰Effective and consistently applied credit risk management practices
that provide customers with reliable access to appropriate financing
solutions in all economic conditions.
Strategy and Key Priorities
Our strategy is focused on improving sales productivity and delivering a
differentiated customer experience to drive peer leading organic growth.
Achieve industry-leading employee engagement and customer
loyalty
2014 Achievements
‰Achieved exemplary employee engagement and commitment to
providing a differentiated customer experience. Scores in our annual
employee survey indicated a high level of confidence in BMO and our
customer-focused strategy.
‰Achieved top-tier customer loyalty as measured by Net Promoter
Score. Enhanced our methodology to provide our employees with a
deeper understanding of loyalty drivers at both a full relationship and
transaction level.
2015 Focus
‰Continue to focus on achieving industry-leading employee engage-
ment and customer loyalty.
Expand relationships with our personal banking customers
2014 Achievements
‰Achieved strong personal lending and deposit growth of 7% and 10%,
respectively.
‰Our successful UPGRADE card campaign generated more than double
the number of new accounts opened in the prior year.
‰Our Summer Everyday Banking campaign generated growth of 10% in
new chequing account acquisitions.
‰Our leads management engine continued to provide our customers
with relevant and timely offers and services, increasing share of
wallet and contributing to the personal banking revenue growth
achieved in 2014.
2015 Focus
‰Increase share of wallet and attract new customers in under-
represented customer segments and products.
Drive growth in commercial lending and deposits through targeted
opportunities
2014 Achievements
‰Achieved commercial lending and deposit growth of 10% and 9%,
respectively, while adhering to prudent risk management practices.
‰Implemented new commercial organizational structure and improved
our performance management process to enhance sales force pro-
ductivity.
‰Successfully completed a pilot program for BMO DepositEdge™that
will provide businesses with the capability to deposit cheques
remotely.
2015 Focus
‰Continue to grow our commercial business by targeting opportunities
by geography, segment and industry.
BMO Financial Group 197th Annual Report 2014 45