BMO Standing By Decision To Close Northern Outlets

BMO Standing By Decision To Close Northern Outlets

Wednesday, March 18, 2009 at 12:29

A regional manager with the Bank of Montreal doesn’t see the bank changing its mind about closing branches in Ile-a-la-Crosse and Beauval later this year.

Ken Segboer says the bank doesn’t have the manpower to handle new regulatory requirements at these outlets.

Segboer also says with the influx of Internet and telephone banking, BMO didn’t foresee its customer base growing in those communities.

The mayors of the affected communities are upset they weren’t consulted before the decision was made — but Segboer says it wouldn’t have made a difference.

The bank plans to hold consultation meetings in the affected communities next month.

The branches will close in September.