BMO open to U.S. growth as risks abate - CEO

* Sees better U.S. buying opportunities than 2 yrs ago

* Believes U.S. housing market approaching turnaround

* Sees provisions for bad loans at plateau through 2010

* Eyes capital market growth in munis, energy, mining

By Andrea Hopkins and Pav Jordan

TORONTO, June 2 (Reuters) - As Canada's profitable and proud Big Five banks eye opportunities amid the global financial carnage, Bank of Montreal's (BMO.TO) chief executive can already see how the nation's banks are carving up the pie.

"Fifteen years ago the Canadian banks had strategies that imitated each other. Today, you've seen a divergence of the banks' strategies. They are all different, and there's room for at least three of the five to be successful," CEO Bill Downe said in an interview on Tuesday at BMO's Toronto headquarters.

Such a tongue-in-cheek statement from the chief executive of Canada's fourth-largest bank belies the seriousness with which Downe takes BMO's mantra of customer relations and doing your homework as he carefully sizes up potential U.S. acquisitions to expand BMO's business.