News Releases

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2011) - BMO Bank of Montreal has opened a new full-service banking branch at 1120 Marine Drive in North Vancouver. The BMO Lower Capilano Branch is a relocation of the branch; moving back to its former location in a newly constructed building after a year in a building one kilometre east on Marine.

The new, open-concept branch is designed to create a welcoming, comfortable banking experience and offers a variety of financial services and conveniences including:

• A free coin counter – a simple-to-use kiosk which counts your loose change;
• Services provided in five different languages;
• Access to commercial account and deposit services;
• Two ATMs;
• Free parking for BMO customers behind the branch in a covered parkade; and
• Barrier-free access.

"We are thrilled to be opening our doors in this rapidly expanding and revitalized community," said James Burris, Branch Manager, BMO Bank of Montreal. "We encourage members of the community and local business owners to come in and speak with our team about their financial needs, including our commercial banking services. For instance, business owners can take advantage of BMO SmartSteps for Business, an online assessment tool which generates a free, customized Action Plan in minutes with solutions to help entrepreneurs run their business more efficiently."

Located in the District Crossing development, the new branch represents an investment of $3.3 million into the community. Customers will have financial services provided by a team of professionals including financial planners, investment advisors, mortgage specialists and small business bankers.

"British Columbia's economy is expected to grow at an above-average pace through 2012, helped by high resource prices and strong Asian export demand. Metro Vancouver's population, which expanded nearly 2 per cent per year over the past decade, also continues to grow at an above-average rate," said Robert Kavcic, Economist, BMO Capital Markets. "The housing market has also shown signs of cooling in recent months, and moderating prices along with still-low mortgage rates should help improve affordability in the city."

"And with the recent announcement of Seaspan Vancouver Shipyard's new contract to build vessels for the Royal Canadian Navy, we know the North Shore will continue to flourish and grow as a strong community. We are proud of our deep roots on the North Shore, and to be able to build our community together with our clients," said James Kitamura, Personal Banking Area Manager, North Shore, BMO Bank of Montreal.

BMO's Lower Capilano branch has extended hours of operation:

• 9:30 a.m. to 5:00 p.m. Monday to Thursday;
• 9:30 a.m. to 6:00 p.m. Friday; and
• 9:30 a.m. to 4:00 p.m. Saturday.

"To celebrate the opening of our new branch, between October 24 and November 30, BMO is lending a hand to young customers wishing to open their first account by matching each child's first deposit of twenty-five dollars," added Mr. Burris.

The grand opening celebration will take place on November 26, 2011.