BMO Financial Group will continue to build on its North American advantages, Chairman and CEO Tony Comper said today in a presentation to the National Bank Financial Canadian Bank CEO Conference.

He reaffirmed BMO’s transnational strategy of investing in its core Canadian franchise, while expanding in the United States. As an example, Comper pointed to the Investment Banking Group’s recent agreement to acquire New York-based Gerard Klauer Mattison, BMO’s 11th U.S. acquisition since 1999.

Comper highlighted the organization’s continuing solid performance, particularly in personal and commercial banking on both sides of the border.

“Our Canadian and U.S. personal and commercial operations drove first- quarter growth,” he said. “We outperformed our Canadian peers in revenue growth and balance sheet growth, in both loans and deposits. We believe these core businesses will support continued solid performance for BMO as our more market-sensitive businesses await the lift that will come with a sustained market turnaround.”

BMO has led its Canadian peer group in P&C revenue growth for the past two quarters. In small business banking, the organization continues to close in on its target to be number one in market share for loans up to $5 million in Canada.

“The growth story is even more positive in U.S. retail and business banking,” said Comper. “With major U.S. banks now targeting Chicagoland, our competitive advantages include the well-entrenched, very well located Harris distribution network and the excellent reputation of the Harris brand in the local market. Expansion plans are well under way to add 50 branches to Harris Bank’s 145-branch distribution network.”

In response to an announcement last week that a TD Bank Financial Group was taking a large goodwill write-down, Comper clarified BMO’s position on the level of goodwill carried by the organization.

“We are comfortable with the level of goodwill on our books. We review goodwill on a regular basis for each reporting unit, and the book value remains appropriate as it is exceeded by market value,” said Comper.