BMO looks to aggressively expand its business in Alberta

CALGARY — BMO Bank of Montreal has created an Alberta and NWT division in Calgary as it seeks to “aggressively” grow its business in the province, the Herald has learned.

Robert Hayes, senior vice-president, Alberta & NWT division, personal and commercial banking for BMO, said the bank will be making a $100-million total investment in the Alberta branch network with new and renovated branches between 2011-2014.

Read more: http://tinyurl.com/by4hh9o

 

Canada’s Growth Unexciting, But Fundamentals Strong

The Canadian economy has been growing at a sub-2% pace in 2012, well below last year’s pace. Indeed, growth in the third quarter was a mere 0.6% a.r. and we are forecasting that the final quarter of this year will see real GDP expand only 1.5%. For an economy very close to full capacity, this isn’t as bad as it sounds. The output gap in Canada is much smaller than in the U.S., having weathered the financial storm far better. As we approach full employment next year, growth of much more than 2% could well trigger inflation warnings, and the Bank of Canada could begin to gradually re-normalize interest rates late next year.

Read more: http://tinyurl.com/cwk2lgm

BMO Bank of Montreal beats estimates with big increase in Q4, 2012 profit

TORONTO – The Bank of Montreal (TSX:BMO) has reported a big increase in quarterly and annual profit, beating analyst estimates by a wide margin.

For the fourth quarter ended Oct. 31, BMO had a $1.08-billion profit in the fourth quarter, a 41 per cent increase over the same time last year. That amounted to $1.59 per share of net earnings before adjustments.

Read more:  http://tinyurl.com/abbpsw8  

Why I’m Bullish about the U.S. Economy

I have long thought that the next four years would be a gift to the next president, regardless of who won the election, just as the past four years were a nightmare. Underlying U.S. fundamentals are strong going forward, despite what will be an intense period of contentious negotiation over the fiscal cliff. The U.S. economy still has a long way to go to reach full employment, so there are no capacity constraints or prospects of Federal Reserve tightening. Instead, pent-up demand is huge and consumer confidence is rising sharply.

Read more:  http://tinyurl.com/b94sv82

Albertans in an upbeat mood about the economy

CALGARY— From business owners to consumers, there is a spring in most people’s steps these days, an upbeat mood about the Alberta economy despite some turbulent economic waters elsewhere in the world.

Recent surveys from the Canadian Federation of Independent Business, BMO and PwC have documented a positive outlook in the province.

Read more: http://tinyurl.com/8hof3tl