The new branch, which the firm said represents a $1.8 million investment into the community, is located at 913 Park Royal Mall South and operates within extended banking hours, seven days a week.

“Greater Vancouver’s economy is cooling somewhat, but continues to outperform the rest of British Columbia,” said Robert Kavcic, economist at BMO Capital Markets.

Although population growth in the region is slowing, it is still “well above the national and provincial averages,” Kavcic added. “Plus, the housing market has moderated, with sales and price growth cooling from the highs set in early 2011.” 

BMO Financial Group provides a range of retail banking, wealth management and investment banking products and services.