- BMO is the only bank in Canada to be recognized since the award's inception in 2007
TORONTO and CHICAGO, March 4, 2024 /CNW/ - BMO has been recognized as one of the World's Most Ethical Companies for the seventh consecutive year by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
BMO is one of four banks worldwide, two banks in the U.S., one bank in India, and the only bank in Canada to be recognized in 2024. BMO is also the only bank in Canada to be recognized with this award since its inception in 2007. The award exemplifies the bank's commitment to doing what's right and operating with transparency, good governance, and integrity in support of a thriving economy, sustainable future, and inclusive society. In total, 136 honorees were recognized, spanning 20 countries and 44 industries.
"It's always inspiring to recognize the World's Most Ethical Companies®. Through the rigorous review process, we see the dedication of these organizations to continually improving their ethics, compliance and governance practices to the benefit of all stakeholders," said Erica Salmon Byrne, Ethisphere's Chief Strategy Officer and Executive Chair. "Companies that elevate best-in-class cultures of ethics and integrity set a standard for corporate citizenship for their peers and competitors to follow. Congratulations to BMO for achieving this honor and demonstrating that strong ethics is good business."
"At the heart of BMO's client service culture is our commitment to ethical business practices that help our customers and communities make real financial progress," said Darryl White, Chief Executive Officer, BMO Financial Group. "To be recognized as one of the world's most ethical companies for a seventh straight year reinforces the strong reputation we've built through the responsible risk management that guides the execution of our strategy to strengthen and grow our bank."
Ethisphere evaluates organizations across five categories: Ethics and Compliance Program; Culture of Ethics; Corporate Citizenship and Responsibility; Governance; and Third Party Management, honouring companies who have best in class practices. This annual recognition affirms the importance of exceptional leadership, sustainability, a culture of integrity, and the value of ethics in business practices.
For more information on BMO's commitments to building social good, please read its Sustainability Reporting Suite.
Methodology & Scoring
Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of January 31, 2024. 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 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.
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset focused on ethical culture and featuring the responses of 2+ million employees around the world; and the Ethics Quotient dataset, featuring 200+ data points highlighting the ethics, compliance, social, and governance practices of the World's Most Ethical Companies. For more information, visit https://ethisphere.com.
SOURCE BMO Financial Group
Media contact: Kelly Hechler, Toronto, [email protected], (416) 867-3996
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