June 26 Bank of Montreal expects cost
savings of more than $400 million from its 2011 acquisition of
Wisconsin lender Marshall & Ilsley, higher than previous
estimates, the bank said in an investor presentation on Tuesday.
BMO, Canada's No. 4 bank, doubled the branch count of its
U.S. Harris Bank unit with the $4.1 billion purchase last year.
It unveiled the new cost savings estimate in an investor
presentation in Chicago.
BMO had previously said it expected synergies of more than
$300 million. The bank also reiterated its medium-term goal of
profit of more than $1 billion from its U.S. retail and wealth