BMO Financial Group has announced a reduction in its US dollar prime lending rate. The rate will decrease from 7.75 percent to 7.50 percent, taking effect on December 19, 2024.
BMO Financial Group ranks as the eighth largest bank in North America by assets, with total assets reaching $1.41 trillion as of October 31, 2024. The bank has been serving customers for over two centuries and operates with a diverse team dedicated to providing various banking services to approximately 13 million customers across Canada, the United States, and select global markets.
BMO emphasizes its commitment to fostering positive change and aims for economic growth, sustainability, and inclusivity.