TORONTO, ONTARIO — (Marketwired) — 05/30/13 — Editors Note: There is a photo associated with this press release.
BMO Bank of Montreal invites customers and members of the community to celebrate the 100th anniversary of its Queen & Broadview branch in Toronto on Saturday, June 1st, 2013.
“BMO proudly opened its Queen & Broadview branch in 1913 in the middle of what is now one of Toronto-s oldest commercial hubs,” said Andrew Auerbach, Senior Vice President, Greater Toronto Division, BMO Bank of Montreal. “One hundred years later, BMO continues to serve the financial needs of Toronto, which now boasts more than 2.7 million residents and is home to a diverse range of Fortune 500 companies.”
The branch is located in Toronto-s Riverside District – part of a well-established commercial area that has undergone a revitalization that has transformed the area into a growing community committed to business development, the arts and other creative industries.
“I-d like to congratulate BMO on 100 years in our community,” said City Councillor Paula Fletcher. “Queen St. East has a rich heritage of culture and commerce, thanks to long-standing community members like BMO who contribute to the vibrancy of this neighbourhood.”
BMO-s History in Toronto
In July of 1818, the newly established Bank of Montreal began operations in the settlement of York (now Toronto), which helped pave the way for the establishment of branch-banking in Canada. Bank of Montreal-s operations in York facilitated trade between Upper Canada (now Ontario) and Lower Canada (now Quebec), propelling the rapid growth of financial services in the region.
In 1823, Upper Canada-s administration decreed that banks redeeming their notes outside of Upper Canada were banned from operating within the province. One such bank affected by this law was Bank of Montreal, and so the Bank was forced to withdraw its operations.
Nineteen years passed and the law was reversed, allowing Bank of Montreal to re-establish itself in the community. By then, the once small settlement of York had expanded to become the City of Toronto.
In 1913, the Queen and Broadview Branch was opened.
BMO Anniversary Celebration Details:
The celebration will coincide with Riverside-s annual StreetFEST.
Media are invited to the anniversary celebration and interviews can be arranged with BMO spokespeople.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at January 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
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Contacts:
Media Contact:
Jessica Park, Toronto
(416) 867-3996
Cally Hunt, Toronto
(416) 867-3996
Internet:
Twitter: @BMOmedia