Bank of Montreal (TSX: BMO, NYSE: BMO) is one of the "Big Five" Canadian banks, along with Toronto-Dominion Bank (TD), Scotiabank (BNS), Canadian Imperial Bank of Commerce (CM), and Royal Bank Of Canada (RY). BMO ranks fifth out of the five banks in market cap and net income.
The Big Five have not been immune to the 2008 Financial Crisis, as TD, RY, and CM wrote down more than C$ 2 billion. BMO has written down C$ 638 million from Q3 2007 to November 19th, 2008, and has had to cut its mortgage rates. However, Canadian banks have a stronger banking system than U.S. banks; Canadian banks have written down C$16.17 billion compared to the total number of dollars globally written down by banks -- USD$720 billion.(Read more at Wikinvest )