- Report marks
Canada's first National Day for Truth and Reconciliation - Highlights BMO's focus on advancing Indigenous interests and economic development
- Demonstrates the contributions made by
BMO's Indigenous Advisory Council and the bank's progress
"Today, we are honoured to share Wîcihitowin ᐑᒋᐦᐃᑐᐏᐣ, BMO's first annual Indigenous Partnerships and Progress Report. Reflecting our Purpose, to Boldly Grow the Good in business and life, this report illustrates the progress we're making toward our commitment to zero barriers to inclusion – within Indigenous communities and across
Education, Employment and Economic Empowerment: Highlights from the Report
- In June, BMO partnered with
First Nations University of Canada , to provide an online education course, Nisitohtamowin ᓂᓯᑐᐦᑕᒧᐃᐧᐣ, free to all Canadians during National Indigenous Peoples Month. An introduction to understandingCanada's history through Indigenous perspectives, the site was accessed over 20,000 times and was also completed by over 80 per cent of BMO employees inCanada , for a total of 45,000 participants in the course. - In 2021, BMO doubled its hiring of Indigenous peoples, increasing Indigenous representation from 1.1 per cent to 1.35 per cent towards its 1.6 percent representation goal. To support career advancement, the bank's Career Pathways program provides tailored support to Indigenous employees
- BMO has a strong and growing presence in 250 communities nationwide. In the past year, the bank experienced 44 per cent year-over-year growth of its Indigenous banking portfolio, with a total value of
$6.5 billion – well on its way to achieving its stated goal of reaching$8 billion by 2025 - In support of Indigenous businesses, BMO is increasing the level of procurement of goods and services from Indigenous partners – committed to spending
$10 million annually with Indigenous-owned businesses by 2023 - BMO's commitment to mobilize
$300 billion in sustainable financing by 2025 includes lending to Indigenous businesses and communities in the structuring of our Sustainable Bond program. In 2020, 8 per cent of the proceeds of BMO's first sustainability bond were allocated to Indigenous people, bands, councils, governments and majority-owned businesses - For advancing Indigenous interests and economic development, this year BMO received Gold Certification in Progressive Aboriginal Relations (PAR), a program administered by the
Canadian Council for Aboriginal Business .
BMO has long served Indigenous communities across
"For decades, BMO has been a leader in providing banking services to Indigenous communities nationwide, and we're committed to deepening those partnerships, which have been built on trust and mutual respect," said
On
To listen to a podcast about understanding the National Day for Truth and Reconciliation, click here.
About
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in
SOURCE
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