- 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, three banks in the U.S., 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.
About BMO Financial
Group
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.
About Ethisphere
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.
View original
content:https://www.prnewswire.com/news-releases/bmo-named-one-of-the-worlds-most-ethical-companies-by-ethisphere-302078277.html
SOURCE BMO Financial Group