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Bank of Montreal Feb 12
Standard & Poors, Feb 2012
Abstract
One of the five dominant universal banks in Canada Prudent credit risk management Good diversification by product, geography, and business line Weak U.S. personal and commercial operating performance Integration risk associated with M&I acquisition given its large size Standard & Poor's Ratings Services' outlook on Bank of Montreal (BMO) is stable, reflecting our expectations that the bank will continue to generate earnings consistent with historical levels. We could lower the ratings if the acquisition of Marshall & Ilsley (M&I) pressures BMO's operating performance through weakening asset quality and additional credit marks, making net charge-offs (NCOs) consistently and materially exceed those of peers or cause integration challenges that would hurt the franchise, or result in Standard & Poor's risk-adjusted capital (RAC)...
Companies mentioned in this report are: Bank of Montreal,BMO Harris Bank National Assn.,Harris Preferred Capital Corp.,BMO Financial Corp,BMO Harris Financing Inc.,BMO Capital Trust,Bank of Montreal Chicago Branch,BMO Capital Trust II
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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