BMO to close outlets in supermarkets

The Bank of Montreal is getting out of the supermarket banking business.

The bank said Monday that most of its 107 small banking outlets in Safeway, Sobeys, Metro and IGA stores will close in April.

"Customers have told us they prefer the services of a full-service bank for the professional advice, relationship management capabilities and the convenience of our online and telephone banking channels," the bank said.

It said clients will be transferred to the nearest full branch.

About 350 people work at the in-store locations, and the bank says its confident many will be redeployed in other bank operations.