We’ve been looking at how the Canadian banks have evolved since the financial crisis erupted 5 years ago. Today’s focus is on the Bank of Montreal (TSX: BMO, NYSE:BMO).
With total assets of $549 billion, the Bank of Montreal is the fourth largest Canadian bank. Back in 2008, BMO was heavily involved in securitized products and accordingly, was forced to record a $1.33 billion provision for credit losses. Only CIBC suffered greater write-downs and losses during that time. However, BMO managed to schluff off this seemingly glancing blow and since its stock price has fared quite well, posting a 5-year return of over 75%.
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