TORONTO, ONTARIO -- (Marketwire) -- 04/23/12 -- BMO Bank of Montreal announced today the opening of its new full-service banking branch in North York at 57 Provost Dr. in North York, ON.
The new open-concept branch offers customers extended banking hours seven days a week and is designed to provide a great banking experience through a variety of financial services and conveniences, including:
-- A free coin counter - a simple-to-use kiosk which counts your loose change; -- Services provided in 11 different languages; -- Access to commercial account and deposit services; -- Two ATMs; and -- Barrier-free access.
"The GTA represents the heart of the Canadian economy, home to the financial centre and a diverse range of Fortune 500 businesses," said Robert Kavcic, Senior Economist, BMO Capital Markets. "North York is an important part of the Toronto economy, home to the Canadian head offices of a number of global companies, and containing some of the city's most sought-after real estate."
"We are excited to be opening the doors to our new North York location," said Marwan Dagher, Branch Manager, BMO Bank of Montreal. "With the spring home buying season underway, we encourage new and existing members of the community to come in and speak with our team about their home financing needs. BMO offers a new 10-year mortgage with a maximum 25-year amortization, which is modeled after our award-winning 5-year maximum 25-year amortization mortgage."
Mr. Dagher added that choosing a shorter amortization allows Canadians to build equity sooner and save on interest costs. For example, on a $400,000 mortgage at a 5 per cent interest rate, moving from a 30-year to a 25-year amortization can save upwards of $70,000 in interest over the life of the mortgage.
In celebration of the new branch opening, customers who open a new Personal Chequing Account and Premium Rate Savings Account with a Performance Plan will receive an additional $150 deposit. As well, if you refer a friend to open this type of account you receive an additional $50.
In addition, customers who open a new BMO Kids Discounted Banking Plan and deposit $25 before May 31st, 2012 will receive another $25 from BMO to help kick-start their child's savings. For more information, please visit www.bmo.com/smartparentspromo.
BMO SmartSteps for Parents is part of BMO's ongoing commitment to Making Money Make Sense. Since 2009, BMO has introduced various tools to help Canadians stay on top of their personal finances, including BMO SmartSteps, BMO SmartSteps for Business, BMO SmartSteps for Students, BMO SmartSteps for Investing and BMO MoneyLogic.
BMO's new North York branch extended hours of operation are:
-- 9:00 a.m. to 6:00 p.m. Monday to Wednesday; -- 9:00 a.m. to 8:00 p.m. Thursday and Friday; -- 9:00 a.m. to 4:00 p.m. Saturday; and -- 12:00 p.m. to 4:00 p.m. Sunday.
The grand opening celebration will take place on September 19, 2012.
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 $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Jessica Park, Toronto
Veronica Bart, Toronto