Bank of Montreal established

On today’s date in 1817, nine Montreal merchants signed articles of association for the organization of the Bank of Montreal (BMO); with £250,000 capital, Canada’s oldest chartered bank would issue our first domestic currency when it opened for business later that year on Nov. 3.

John Richardson, who was arguably Montreal’s leading businessperson at the time, signed the articles of association with eight other merchants to establish the BMO in a rented house in Montreal, Que. The bank would officially open its doors to the public on Nov. 3, 1817, making it Canada’s oldest bank; as such, its institution number is “001”.

In Canada, the bank currently operates as BMO Bank of Montreal and has more than 900 branches and seven million customers.


Leave a Reply

Keep up to date with the numismatic community

Sign up to receive our newsletter.

Canadian Coin News


Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $47.99/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.