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BMO Bank of Montreal has long been recognized as the heart – and the everyday face – of BMO Financial Group. It is therefore not surprising that our response to recent economic storms has been to continue to invest significantly in our Personal & Commercial business. 

In 2002, we continued to develop our workforce and imple- ment a more effective managerial structure across our branch network. We also introduced Pathway Connect, a state-of-the-art technology platform that enhances our ability to identify and meet the individual needs of our cus- tomers. We remain committed to providing our customers with high-quality, consistent, multi-channel service. 

Judging by the results, our strategy is spot on. In 2002, we sold more products, improved our service levels, gained market share and experienced the highest market share growth among small business banks in Canada. Our goal is to provide financial solutions “for the world you live in.” TM 

Our goal is to maintain our leadership position in risk and portfolio management, and to continue to serve our share- holders and our customers by delivering high-quality risk management – regardless of market conditions. 

Achieving our objective means continuing to understand credit, market and operational risks before we make decisions. It means putting together a portfolio of assets that has a diversity of risk. And it means maintaining a 

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consistent risk appetite. Sophisticated tools enhance our ability to mitigate risk. But tools are aids, not a replacement for management’s disciplined, enterprise-wide approach to the application of our risk philosophy. 

Superior risk management also means helping our customers understand risk. We want our customers – individual, small business and corporate clients – to be comfortable that when they deal with us, we will evaluate risk in a consistent fashion and be there to deliver financial solutions–whetheringoodtimesorbad. 

Harris Bank is the cornerstone of our U.S. presence. With outstanding capabilities and brand awareness, we have an advantaged position that differentiates BMO Financial Group from our competitors and provides a firm foundation for future growth in Chicago and beyond. 

In 2002, Harris achieved strong double-digit earnings growth despite poor economic conditions in the United States. Our Chicagoland base is rich in opportunity for accelerated growth, with eight million people and a gross domestic product that is 40 percent of Canada’s. Our goal is nothing less than to be the best and biggest bank in the region. To achieve this, we will build distribution, maintain a sharp focus on marketing and customer satisfaction, and leverage our business model of a “local” community banking network combined with world-class centralized support. 

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