Bank of Montreal : BMO's $10 Billion Credit Boost to Benefit Businesses in BC
January 26, 2012 at 12:08 pm
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2012) -
BMO's announcement that today it is making $10 billion
in credit available to businesses across Canada over the
next three years will provide important benefits to
companies located in BC, according to Derral Moriyama,
Senior Vice-President, Commercial Banking, Greater
Vancouver District, BMO Bank of Montreal.
"While BC business owners are showing understandable
caution, we are seeing an uptick in activity among our
commercial clients," said Mr. Moriyama. "The
availability of more credit will help provide the impetus
for these owners to invest in their operations and create
more jobs. We are open for business and our local bankers
are armed with limits to make almost every lending decision
right here in B.C."
"Further growth in business investment would help
support continued strength in the B.C. economy," said
Robert Kavcic, Economist, BMO Capital Markets. "Growth
in the province is expected to moderate, with cooling
residential construction and government spending combined
with the impact of modest U.S. economic growth. While this
environment has led to understandable caution in recent
months, relatively strong corporate finances and supportive
financial conditions should help capital spending in the
coming year."
Media Contacts:
Laurie Grant
604-665-7596
laurie.grant@bmo.com
Internet: www.bmo.com
Twitter: @BMOmedia
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Bank of Montreal (BMO) is a Canada-based company, which offers a wide range of personal banking services. The Company is engaged in providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to customers across Canada, the United States, and in select markets globally. The Company offers services, such as bank accounts, credit cards, mortgages, loans, investments, creditor insurance, and travel insurance. The Companyâs segments include P&C, U.S. P&C, Total P&C, BMO Wealth Management, BMO Capital Markets, and Corporate Services. Its bank accounts include checking accounts, and savings accounts. Its credit card services include no fee, low interest, cash back, BMO Rewards, AIR MILES, travel, and lifestyle. Its credit cards include BMO eclipse Visa Infinite Card, BMO Ascend World Elite Mastercard, BMO eclipse Visa Infinite Privilege Card, BMO Preferred Rate Mastercard and BMO CashBack Mastercard.