BMO Ranks First in J.D. Power 2023 Canada Retail Banking Satisfaction Study

TORONTO, Oct. 19, 2023 /CNW/ - BMO today announced it has received the highest score in customer satisfaction among Canada's "Big Five" banks in the J.D. Power 2023 Canada Retail Banking Satisfaction Study. The annual study analyzes direct feedback from thousands of customers across Canada and measures their satisfaction with their primary bank.

Customers rated BMO highest in four of seven study factors:

• Level of trust
• People
• Account offerings meeting customers' needs
• Helping save customers' time or money

"We are grateful to our customers for recognizing BMO's commitment to always put them first – and for ranking us #1 in personal banking satisfaction. Today's win is a testament to Team BMO's dedication to helping our customers make real financial progress, as well as our relentless focus on convenience and innovation, across all customer channels," said Erminia (Ernie) Johannson, Group Head, North American Personal and Business Banking, BMO. "I am incredibly proud of the hard work and care our team delivers every single day. Together, we will continue to support our customers' financial goals and achievements with innovative digital experiences and expert guidance."

Earning this top award builds on BMO's strong track record of industry recognitions. In addition to ranking #1 for Retail Banking Customer Satisfaction, BMO received the highest score among Canada's largest banks in the J.D. Power 2023 Canada Online Banking Satisfaction Study in June.¹

The 2023 Canada Retail Banking Satisfaction Study includes responses from 13,960 retail bank customers in Canada about the qualifying bank they consider to be their primary financial institution. The study was fielded in two waves in 2023.

For more information on BMO Personal Banking, visit www.bmo.com/main/personal 

For J.D. Power 2023 award information, visit www.jdpower.com/awards 

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of July 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

SOURCE BMO Financial Group