BMO named best-performing bank in Canada in The Banker’s global ranking
BMO has been named Canada’s best-performing bank on The Banker’s annual ranking of the Top 1000 World Banks.
Owned by The Financial Times and considered the premier magazine for banking and finance, The Banker is known for its annual Top 1000 World Bank ranking, which recognizes global leaders in the industry and assesses the world’s banks by their Tier 1 capital both globally and by country. Thousands of financial results are analyzed to produce the final Top 1000, which is considered the industry’s most widely used index of global banking and recognized as the definitive guide to the soundness, strength, and profitability of banks.
BMO’s lead as the best-performing bank in Canada is based on The Banker’s newly developed model to highlight the relative strengths and weaknesses of peer banks. The model refers to 17 key ratios, and year-on-year basis point changes, in eight categories: growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness and leverage. Each bank’s performance across these categories is used to generate an overall bank score and ranking.
“Congratulations to Bank of Montreal for securing the accolade of best-performing bank among the six largest banks in Canada. Impressively, BMO has topped the table in seven of the eight performance categories, including growth, profitability, operational efficiency, asset quality, return on risk, soundness and leverage.”
– Joy Macknight
Editor of The Banker
BMO was also ranked the third largest bank in the country and 43rd in the world.