Bid to strengthen financial collaboration by Bank of Montreal

Bank of Montreal, or BMO, Canada's oldest and one of North America's leading financial institutions, has pledged to leverage its unique historical ties and cross-border expertise to solidify its role as a key financial bridge between China and North America, according to Lisa Xia, president and CEO of Bank of Montreal (China).

Founded in 1817, BMO is Canada's first bank and has grown into a diversified financial services powerhouse, ranking as the seventh-largest bank in North America by assets. With a rich history spanning over two centuries, BMO has built a reputation for stability, innovation and a deep commitment to fostering international trade. The bank operates across Canadian personal and commercial banking, United States banking, wealth management and capital markets, serving millions of customers globally.

"BMO's enduring presence, diversified footprint and cross-border capabilities provide a reliable partner to generate long-term opportunities," Xia said.

BMO's relationship with China dates back to its early history. "In 1818, just months after our founding, we executed a foreign-exchange transaction to facilitate trade with China," Xia said.

This long-term perspective has been matched by sustained physical investment. BMO established its first representative office in Beijing in 1983, strategically positioning itself as China's economy began its historic acceleration.

A major milestone was reached in 2010 when BMO became the first — and remains the only — Canadian bank to locally incorporate into the Chinese mainland. Today, with a network spanning Beijing, Shanghai and Guangzhou in Guangdong province, BMO provides a comprehensive suite of services including corporate banking, trade finance, treasury and payments, and private banking services.

Beyond traditional banking services, BMO has deepened its integration into China's financial ecosystem through strategic minority investments. The bank holds approximately a 28 percent equity stake in Shanghai-based Fullgoal Fund Management, one of China's prominent public fund managers. Additionally, BMO owns approximately a 16 percent equity stake in Beijing-headquartered COFCO Trust, a subsidiary of the State-owned COFCO Group.

These strategic investments underscore BMO's long-term strategy to broaden access to China's asset management and trust sectors, Xia said.

"BMO will continue to partner with strong local companies such as COFCO Trust and Fullgoal Fund Management in order to better serve our clients," she added.

The executive emphasized that BMO's strength lies in its ability to act as a trusted connector between the two structurally complementary economies.

"As a North American bank rooted in Canada, BMO is viewed as a trusted connector between China and Canada," Xia noted. "Canada's strengths in energy, agriculture and natural resources align with China's manufacturing scale and consumer demand."

"BMO acts as a financial conduit for these flows: through corporate banking, trade finance, and treasury and payments solutions, we provide the liquidity and risk management necessary for international commerce," Xia said.

The bank delivers critical market insights and tailored financial solutions across both regions. Specifically, the bank leverages its expertise in both geographies to support Chinese manufacturers' "going out" strategies. This includes providing loans, working capital financing and syndication services for their subsidiaries in Canada and the United States to fund expansion. Simultaneously, BMO assists global corporate clients with cash management, trade finance, and strategic advice when establishing operations in China.

China is Canada's second-largest trading partner, with the total value of goods trade reaching 117.44 billion Canadian dollars ($84.52 billion) in 2024. Data from the General Administration of Customs of China showed that from January to August 2025, the bilateral trade volume reached $61.74 billion, marking a year-on-year increase of 7.1 percent.

"BMO will continue to build on its strength as a connector between China and North America to enable Chinese companies to go abroad and North American companies to come to China," Xia said.

For high-net-worth individuals and newcomers, BMO offers a "One-Bank experience", connecting clients with Mandarin-speaking advisers and cross-border solutions. Over the past 10 years, BMO has supported more than 50,000 newly arrived Chinese families in establishing their banking relationships in Canada.

"We invest in client education, explaining how the Canadian banking system works to help clients feel confident as they begin a new chapter," Xia said.

The bank also fosters future ties through targeted educational initiatives. Every year, BMO hosts the Future Elite Challenge, a business-plan competition that attracts students from across China, giving them a platform to showcase business talent, interact with senior leaders and strengthen academic and career development.

Furthermore, BMO offers the international student Guaranteed Investment Certificate program in China, which helps students provide the Canadian government proof of their funds when applying for a visa to study in Canada.

As of Oct 31, 2025, BMO had approximately 55,234 employees and around 1,832 branches globally. With total assets amounting to approximately 1.5 trillion Canadian dollars, it serves about 13 million clients across North America and globally with a range of financial products and services including retail, wholesale, wealth management and investment banking.

"BMO will continue to operate in China with prudence, consistency and a long-term view to boldly grow the good in business and life," Xia said.