Bank of Montreal 2015 Annual Report Download - page 37

MD&A
MANAGEMENT’S DISCUSSION AND ANALYSIS
Canadian Personal and Commercial Banking
Canadian Personal and Commercial Banking provides a full range of
financial products and services to eight million customers. We’re here
to help our customers make the right financial decisions as they do
business with us seamlessly across our channels: getting advice from our
16,000 employees at their place of business, 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
LinesofBusiness
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.
Our employees are focused on providing exceptional service to all of our
customers every time they interact with us.
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. Our Commercial bankers
partner with our customers to help them grow and manage their
business.
Strengths and Value Drivers
‰Strong commercial banking business, reflected by BMO’s number two ranking in Canadian market share for business loans of $25 million or less.
‰Largest MasterCard®issuer in Canada, and one of the top commercial card issuers in North America.
‰Leading issuer of AIR MILES®, Canada’s premier coalition loyalty program.
‰Recognized for the third consecutive year by the global financial services research firm Celent with a 2015 Model Bank Award for excellence in the
digital banking category.
‰Proud to be the official bank of the Canadian defence community, serving the unique needs of the Canadian military.
‰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 capturing key growth and loyalty opportunities while capitalizing on the shift to digital to improve efficiency.
Continued our focus on customer loyalty and growth
2015 Achievements
‰Improved our industry-leading employee engagement score by another two percentage points in our annual survey.
‰Established new customer service standards across all channels to provide a differentiated experience for our customers and build their loyalty.
‰Redesigned our fraud recovery and personal estate processes, in order to make our customers’ involvement easier for them in moments that
matter.
Personal banking
‰Achieved personal lending (excluding retail cards) and deposit growth of 2% and 6%, respectively.
‰Increased share of wallet, demonstrating that our products continue to meet the needs of our valued customers.
‰Our Spring Home Financing and Summer Everyday Banking Campaigns were a success. Our Summer Everyday Banking Campaign resulted in
everyday banking plan sales growing 26% compared to last year.
‰Introduced the BMO Savings Builder Account, becoming the first Canadian bank to reward customers with bonus interest for saving monthly.
‰World Elite MasterCard®recognized as the Best Travel Reward Credit Card and Best Travel Points Credit Card.
‰BMO’s Premium CashBack MasterCard for Business was named #1 in MoneySense™magazine’s annual ranking of Canada’s Best Business Cash Back.
Commercial banking
‰Achieved 7% growth in both commercial lending and deposits.
‰Launched the BMO Biz Basic™Plan, to help small business owners easily manage their daily banking simply and cost-effectively.
‰Expanded our cash management offerings with the launch of BMO DepositEdge™, enabling our clients to deposit cheques remotely, and BMO Spend
Dynamics™, giving corporate card clients convenient access to their transaction data and the ability to analyze their program spend.
‰Named as the Best Commercial Bank in Canada by World Finance Magazine in recognition of our commitment to building long-term customer
relationships and innovative solutions with a strong regional and industry focus, particularly in the areas of Aboriginal Banking and Women in
Business.
2016 Focus
‰Focus on improving customer loyalty to deepen relationships. In personal banking, increase personal share of wallet and in commercial banking,
target opportunities across geography, segment and industry.
48 BMO Financial Group 198th Annual Report 2015