BMO Financial Group will continue to build on its North American growth strategy, chairman and CEO Tony Comper said today at an investor conference in Montreal.

Speaking at National Bank Financial’s Canadian Financial Services Conference, Comper highlighted BMO’s seven consecutive quarters of earnings growth.

Comper credited the bank’s strategy to invest in and strengthen its core Canadian franchise while growing and expanding its Harris franchise in the United States.

“In order to further increase the reach and profitability of our U.S. franchise, we are on the lookout for mid-size and small retail banking acquisitions in Chicago, Illinois, and surrounding states that meet our strict financial criteria and offer the best strategic and cultural fit,” Comper said.

Since 1999, BMO has made 13 retail banking, wealth management, and investment banking acquisitions in the United States, including the recent agreement to acquire New Lenox State Bank in the rapidly growing Chicago suburb of Will County. In addition, Comper said Harris has secured the real estate to open 10 additional branch locations in the Chicago area in 2004.

This year marks the 20th anniversary of the purchase of Harris Bank, when BMO first established its solid foothold in the United States. Today the integrated U.S. franchise, which includes retail and investment banking and wealth management businesses, has an asset base of $70 billion and generated 30% of BMO Financial Group’s revenue in 2003.

Speaking about the possibility of Canadian bank mergers, Comper said, “the leadership team routinely assesses a wide range of M&A options in both Canada and the U.S., and when, and if, we find the right partner at the right time, we will take the appropriate action. With or without a merger, I have confidence in BMO’s prospects for growth and continued success.”