Bank Of Montreal Eyeing US For Acquisitions

Canada's fifth-largest bank, Bank of Montreal (BMO), expects there to be acquisition opportunities in the US caused by the current economic environment. On April 15, Ellen Costello, chief executive of Harris Bankcorp, BMO's US unit, stated that 'there will be more opportunities at better prices than in the past and we are monitoring these very closely' and that acquiring US banks was a 'key priority'. BMO Chief Executive Bill Downe also expects consolidation in the US market and has commented that some of the banks that have been hurt by exposure to the real estate market 'will be good fits

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