Bank of Montreal 2000 Annual Report Download - page 15

Download and view the complete annual report

Please find page 15 of the 2000 Bank of Montreal annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

A rigorous focus on cost, capital and
risk management
is the basis of our growth strategy —
a strategy that involves managing down risk-weighted assets and reducing
costs, primarily in our centralized services and distribution areas.
Yet this is no mere culling exercise. As we streamline our processes and
dispose of low-value, capital-intensive businesses, we are also making
strategic investments of capital and resources in areas with the greatest
potential to best serve our customers —and maximize shareholder value.
$403 million
We reduced our expenses by $263 million in 2000, which is
expected to produce $403 million in cost savings in 2001.
By selling 62 branches in low-growth areas in
Western Canada to local credit unions, we helped
ensure new jobs for employees and continued
banking service for local residents.
2million
Two million of our customers are expected to bank electronically by 2002.
In anticipation, we are creating a more cost-effective, integrated distribution
system, reducing the number of stand-alone branches while increasing the
number of more convenient and profitable in-store branches.
Bank of Montreal Group of Companies Annual Review 2000 ■11
[bmo.com]