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BMO: This could cause a potential banking and mortgage crisis in Canada.J. Safra Sarasin Group completes the acquisition of the Private Banking Business of Bank of Montreal in Hong Kong and Singapore. BMO acquired Chicago-based Harris Bank in to offer retail and Also, with an eye on the Chicago area, CIBC completed the acquisition of. BMO will acquire Bank of the West for a cash purchase price of $ billion or $ billion net of estimated $ billion of excess capital (at closing) at.