Significant Subsidiaries (Tables)

12 Months Ended

Oct. 31, 2025

Summary of Significant Operating Subsidiaries

As at October 31, 2025, the bank, either directly or indirectly through its subsidiaries, controls the following significant operating subsidiaries.


Significant subsidiaries (1) (2)	Head or principal office		Book value of shares owned by the bank (Canadian $ in millions)
AIR MILES Loyalty Inc.		Toronto, Canada		$ 19
Bank of Montreal (China) Co. Ltd.		Beijing, China		497
Bank of Montreal Europe Public Limited Company		Dublin, Ireland		1,391
Bank of Montreal Holding Inc. and subsidiaries, including:		Toronto, Canada		35,455
Bank of Montreal Mortgage Corporation		Calgary, Canada
BMO Mortgage Corp.		Vancouver, Canada
BMO Investments Inc.		Toronto, Canada
BMO InvestorLine Inc.		Toronto, Canad a
BMO Nesbitt Burns Inc.		Toronto, Canada
BMO Private Investment Counsel Inc.		Toronto, Canada
BMO Private Equity (Canada) Inc.		Toronto, Canada
BMO Capital Markets Limited		London, England		434
BMO Capital Partners Inc.		Toronto, Canada		1,067
BMO Financial Corp. and subsidiaries, including:		Chicago, United States		60,146
BMO Bank National Association		Chicago, United States
BMO Capital Markets Corp.		New York, United States
BMO Japan Securities Ltd.		Tokyo, Japan		6
BMO Life Insurance Company and subsidiary		Toronto, Canada		1,430
BMO Life Assurance Company		Toronto, Canada
BMO Trust Company		Toronto, Canada		630

(1)

Each subsidiary is incorporated or organized under the laws of the state or country in which the principal office is situated, except for BMO Financial Corp. and BMO Capital Markets Corp., which are incorporated under the laws of the state of Delaware, United States.

(2)

Unless otherwise noted, the bank, either directly or indirectly through its subsidiaries, owns 100% of the outstanding voting shares of each subsidiary.