Trustbank Private Joint-Stock Bank (PJSB) has opened a U.S. dollar correspondent account with BMO Bank (Bank of Montreal), one of North America’s leading financial institutions. The achievement was made possible through the implementation of an innovative trilateral cooperation framework established under a Master Services Agreement between Trustbank and the U.S.-based company OWNY Inc.
The new correspondent account will significantly enhance Trustbank’s international payment capabilities, optimize its U.S. dollar operations, and provide customers with greater speed, efficiency, and reliability in conducting cross-border transactions. It also demonstrates the Bank’s commitment to international banking standards and transparency.
BMO Bank, a member of BMO Financial Group (Bank of Montreal), is part of one of Canada’s oldest multinational banking groups, with a history dating back to 1817. The Group manages consolidated assets exceeding USD 1.54 trillion, ranks as the eighth-largest bank in North America, and maintains a strong strategic position among the top 15 commercial banks in the United States.
The institution’s financial strength and creditworthiness are reflected in its high investment-grade ratings from leading international rating agencies, including AA– from Fitch Ratings, Aa2 from Moody’s, and A+ from S&P Global Ratings. In addition, Global Finance has recognized BMO Bank as a leading provider of transaction banking services in North America.
For reference, Trustbank currently maintains stable correspondent banking relationships with a number of leading international financial institutions, including Commerzbank AG (Germany), Raiffeisen Bank International (Austria), Yinzhou Bank and China Zheshang Bank (China), Halyk Bank (Kazakhstan), and other prominent foreign banks.
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