Raising Uncertainty Rating for Bank of Montreal to Medium From Low, Given Tariffs

Bank of Montreal is the fourth-largest bank in Canada and one of six Canadian banks that collectively hold almost 90% of the nation's banking deposits. It derives roughly 60% of its revenue from Canada and 30% from the United States. BMO has a well-established Canadian banking presence, an established US retail operation in the Midwest, and growing commercial and capital markets capabilities. It is the second-largest asset manager of the Canadian banks as well as the second-largest exchange-traded fund provider in Canada.