BMO Financial Group and BNP Paribas sign commercial banking deal

TORONTO – BMO Financial Group has signed a deal with BNP Paribas for a long-term agreement to help support its commercial banking clients.

BMO completed its acquisition of California-based Bank of the West from BNP Paribas on Feb. 1.

The banks say the agreement will ensure continuity of services for their international commercial clients.

The two banks will also enter into a leasing services partnership.

Dan Marszalek, BMO’s co-head of U.S. commercial banking, says the deal combines the strengths of BMO with BNP Paribas, a leading bank in Europe.

BMO’s acquisition of Bank of the West added nearly 1.8 million commercial, retail, wealth management and business banking customers.

This report by The Canadian Press was first published Feb. 21, 2023.

Companies in this story: (TSX:BMO)