BMO Financial Group has announced a reduction in its US dollar prime lending rate, which will decrease from 8.00 percent to 7.75 percent. This change will take effect on November 8, 2024.
The financial institution is recognized as the eighth largest bank in North America by assets, holding total assets of $1.4 trillion as of July 31, 2024. BMO has been serving customers for two centuries and offers a wide range of services including personal and commercial banking, wealth management, global markets, and investment banking to approximately 13 million clients across Canada, the United States, and select international markets.
BMO is committed to its purpose of "Boldly Grow the Good in business and life," aiming to foster positive change globally while promoting economic progress, sustainability, and inclusivity.
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