Air Miles program members can continue to use their collector cards, and their miles will automatically convert to “Blue Points” at an equivalent value upon this summer’s launch, with no action required. BMO Air Miles credit and debit card holders can also continue using their cards uninterrupted and will receive more program details in the coming months.BMO revamps Blue Rewards with simpler, personalized perksThe bank said Blue Rewards will feature a simplified booking experience for flights, hotels, and c ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock characte ...

AIR MILES reward earning with BMO credit cards will end in Alberta on March 2, 2026AIR MILES reward earning with BMO credit cards will end for the rest of Canada on May 26, 2026Shell Canada gas stations will allow people to continue earning AIR MILES through May 26, 2026A new Blue Rewards mobile app is being developed and set to launch in Alberta and the rest of Canada on those datesCardholders will be given offers to migrate their AIR MILES rewards on a 1:1 basis to the new Blue Rewards programThere are mo ...

Core Insights - BMO Asset Management Inc. is reducing annual management fees on select BMO ETFs to enhance cost-effectiveness for Canadian investors [1] - The management fee reductions apply to three ETFs, with the BMO Equal Weight Global Gold Index ETF and BMO Junior Gold Index ETF decreasing from 0.55% to 0.40%, and the BMO Government Bond Index ETF decreasing from 0.15% to 0.09% [1] - Changes to risk ratings for certain BMO ETFs have been announced, reflecting an annual review and standardized risk classification methodology [2] Fee Reductions - The BMO Equal Weight Global Gold Index ETF (ZGD) will have its management fee reduced from 0.55% to 0.40% [1] - The BMO Junior Gold Index ETF (ZJG) will also see a fee reduction from 0.55% to 0.40% [1] - The BMO Government Bond Index ETF (ZGB) will have its management fee lowered from 0.15% to 0.09% [1] Risk Rating Changes - The risk rating for the BMO Covered Call Canadian Banks ETF (ZWB.U) has changed from High to Medium to High [2] - The BMO Long-Term US Treasury Bond Index ETF (ZTL.F) has seen its risk rating change from Low to Medium [2] - The BMO Low Volatility International Equity ETF (ZLI) and BMO Low Volatility US Equity ETF (ZLU) have both changed from Medium to Low to Medium [2] Distribution Frequency Change - The frequency of distribution for the BMO Government Bond Index ETF is changing from quarterly to monthly, effective immediately [2]

Or, as U.S. retirement guru Wade Pfau recently put it, “A retirement income plan should be based on planning to live, rather than planning to die.” The Michael James blog recently highlighted that quote.  Retirement is usually about planning for unexpected longevity, often exacerbated by inflation. After all, a 65-year-old Canadian woman can expect to live to 87—but there’s an 11% chance she’ll live to 100. That fact was cited by Fraser Stark, President of Longevity Retirement Platform at Toronto-based Purp ...

Core Insights - BMO is enhancing its role as a key financial bridge between China and North America, aiming to support bilateral trade cooperation [1][4] - The bank has a long history in cross-border transactions, having conducted its first foreign exchange transaction related to China-Canada trade shortly after its establishment in 1817 [2] - BMO has established a significant presence in China, being the first Canadian bank to set up a legal entity in the country, with operations in Beijing, Shanghai, and Guangzhou [2] Company Overview - Founded in 1817, BMO is the oldest bank in Canada and ranks as the seventh largest financial institution in North America, offering diversified financial services [1] - The bank serves millions of customers globally, with a focus on personal and commercial banking, wealth management, and capital markets [1] Cross-Border Operations - BMO provides various financial services to corporate clients, including loans and cash management, to support Chinese manufacturing companies in their international expansion [4] - For individual clients, BMO offers a "one-stop banking experience" with services tailored for high-net-worth individuals and new immigrants, including Mandarin-speaking support [4] Strategic Investments - BMO has made strategic equity investments in the Chinese market, holding approximately 28% of Shanghai Fuguo Fund Management Co. and about 16% of COFCO Trust [2] - These investments reflect BMO's long-term strategy to expand its presence in China's asset management and trust sectors [2] Trade Relations - According to data from the General Administration of Customs of China, the bilateral trade volume between China and Canada reached $61.74 billion from January to August 2025, marking a 7.1% year-on-year increase [4] - China is Canada's second-largest trading partner, with total goods trade expected to reach 117.44 billion CAD in 2024 [4] Future Vision - BMO aims to continue leveraging its connectivity to assist Chinese companies in expanding overseas and to support North American businesses entering the Chinese market [4] - The bank is committed to a vision of "daring to explore and achieving great success" while maintaining prudent operations and a long-term perspective in the Chinese market [4]

Core Insights - Saudi Arabia is set to continue offering significant exploration opportunities in the mining sector for 2026 and 2027, aiming to unlock up to $2.5 trillion in mining potential [6][8]. Group 1: Initiatives and Developments - The Mining Infrastructure Enablement Initiative has been launched in collaboration with MODON, which includes the construction of a 75-kilometer treated water pipeline to support the Jabal Sayid area's mining projects [2]. - A financing gateway has been established in partnership with the Bank of Montreal to improve access to funding, addressing a key challenge in the mining sector [3]. - The introduction of future minerals metrics aims to track progress in developing the minerals value chain [3]. Group 2: Economic Impact and Vision 2030 - The Future Minerals Forum's ministerial roundtable aims to create value and jobs, support economic diversification, and shape the forum's agenda for the next five years [4]. - These initiatives align with Saudi Arabia's Vision 2030 goals to strengthen the mining sector, emphasizing sustainable growth and an investor-friendly environment [5]. Group 3: Licensing and Exploration - Over 30,000 square kilometers have been awarded through licensing, with the ninth licensing round being the largest to date, offering multiple sites to 24 companies [7]. - Spending on surveys, Arabian Shield mapping, and exploration has significantly increased, reaching over $80 billion in 2024, attracting strong global attention [9].

Group 1: Market Activity - Secondary offerings increased by 76% to $23.6 billion, while initial public offerings (IPOs) surged by 243% to just over $2 billion, and preferred securities issuance rose by 1,437% to $2.6 billion [1] - Retail structured products also saw a 44% increase, reaching $770.6 million [1] Group 2: Sector Performance - The materials sector led new deal activity, accounting for nearly 40% of total issuance at $12 billion, followed by the energy and power sector with a 24.9% share, and industrials at 9.9% [2] Group 3: Underwriter Rankings - RBC Capital Markets maintained the top position in LSEG's equity underwriters league tables, followed by BMO Capital Markets and CIBC World Markets, which improved from eighth to third place [2][3] - JP Morgan led the IPO underwriter rankings, with RBC, BMO, and CIBC following [4] - Canaccord Genuity Group Inc. ranked first in retail structured products, pushing CIBC to second [4] Group 4: Debt Issuance - Total debt issuance value reached $276 billion, up 2% from the previous year, with a 1% increase in deal volume [4] - Government debt issuance was $154 billion, down 2%, while corporate debt issuance increased by 10% [5] - RBC retained the top spot in overall debt underwriter rankings, with BMO moving to second place, TD to third, and CIBC to fourth [5][6]

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Summary of Bank of Montreal Conference Call Company Overview - **Company**: Bank of Montreal (NYSE: BMO) - **Date**: January 06, 2026 Key Points ROE Target and Performance - Bank of Montreal aims to achieve a **15% Return on Equity (ROE)** by the end of **2027**, with a commitment to sustainable performance beyond that [6][8][59] - The bank increased its ROE by **150 basis points** year-over-year, the fastest among peers, and achieved **26% EPS growth** in the previous year [4][5] - The bank's operating leverage was **4.3%** with an **18% growth** in Pre-Provision Profitability (PPPT) in 2025 [5] U.S. Banking Segment - The objective is to exit 2027 with a **12% ROE** in the U.S. banking segment, which has been restructured to optimize synergies between personal, commercial, and wealth management services [9][10] - The restructuring began in July 2025, and the bank expects to see full benefits from this optimization by the second quarter of 2026 [11] - Loan growth in the U.S. is anticipated to be in the **mid-single digits** starting in the second quarter of 2026, contingent on macroeconomic conditions [16] Credit and Impairments - The bank expects a **flattish** credit experience in 2026, with improvements anticipated in the U.S. but some deterioration in Canadian retail [13][14] - The bank aims to normalize impaired Provision for Credit Losses (PCL) to the mid-30s, but does not expect significant credit normalization to impact ROE significantly [14][34] Deposit Growth and Strategy - Deposit growth has been strong, particularly following the instability in early 2023, and is expected to align with loan growth moving forward [18] - The bank is focusing on improving the mix of deposits, targeting low-cost retail deposits and operational deposits in the commercial sector [19][21] Canadian Market Outlook - Loan growth in Canada is projected to be low single digits, influenced by economic uncertainty and client confidence [22][24] - The bank is optimistic about the Canadian economy's resilience and expects to see increased loan demand as clients regain confidence [24] Efficiency and Cost Control - The bank's efficiency ratio gap to peers has narrowed from **400 basis points** to **160 basis points** over the past five years [27] - A restructuring expense of approximately **CAD 200 million** is expected, with an annual run rate benefit of **CAD 250 million** [28] Capital Deployment and M&A Strategy - The bank generated **90 basis points** of capital last year and maintains a **13.3% Common Equity Tier 1 (CET1)** ratio, indicating strong capital generation capacity [35] - While the bank is open to M&A opportunities, it prioritizes organic growth and optimizing existing operations over pursuing acquisitions [39][40] Capital Markets Outlook - The capital markets business is performing well, with expectations to exceed previous targets of **$625 million** in PPPT per quarter [48] - The U.S. capital markets are seen as a significant growth area, with high market shares in investment banking and a focus on integrating services across business lines [51][52] Macro Economic Outlook - The bank anticipates **2.3%-2.4% GDP growth** in the U.S. and **1.7%** in Canada, with a positive outlook for operational improvements continuing into 2026 [58] - The bank remains optimistic about its ability to achieve its ROE target and sustain it beyond 2027 [59] Additional Insights - The bank's strong position in the mining sector and its global reach in capital markets are expected to provide significant benefits as the market improves [55] - The bank is cautious about the timing of capital flows despite positive policy shifts, indicating a measured approach to growth [56]