BMO is buying Bank of the West from BNP Paribas. Combining banks smaller than America’s four giants makes sense. But getting a deal across the line is not without risk. richardbeales
BMO Financial, also known as Bank of Montreal, said on Dec. 20 it had agreed to buy Bank of the West, BNP Paribas’ U.S. commercial lending arm, for $16.3 billion in cash.
BMO Harris Bank, the company’s U.S. lender, had $166 billion of assets at the end of September, according to Federal Reserve data. Bank of the West had $105 billion. BMO said it expected to be able to cut 35% of Bank of the West’s non-interest expenses, saving about $670 million a year before tax.A Bank of Montreal logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Montreal in advanced talks to buy BNP Paribas's U.S. unit - WSJCanada's Bank of Montreal is in advanced talks to buy the U.S. arm of French bank BNP Paribas SA , the Wall Street Journal reported late on Sunday, citing people familiar with the matter.
Read more »
Israeli army arrests 4 suspects in deadly West Bank shooting | AP NewsJERUSALEM (AP) — The Israeli military said Sunday that its forces apprehended four Palestinian suspects believed to have taken part in a deadly shooting in the occupied West Bank. In Thursday’s incident, at least one Palestinian gunman opened fire on a car filled with Jewish seminary students next to a West Bank settlement outpost.
Read more »
China's central bank cuts a benchmark rate for the first time since the pandemicThe last time the central bank cut the one-year and five-year LPR was in April 2020, according to data from Wind Information.
Read more »
Florida deputies jailed, suspended after fight with Navy sailors in Key WestTwo Florida sheriff's deputies have been suspended after an off-duty fight with three sailors early Saturday.
Read more »
West Side Story Star Rachel Zegler On Reimagining The Movie MusicalFor the 20-year-old phenom, a career-making role in West Side Story is just the beginning.
Read more »