Bank of Montreal : BMO's $10 Billion Credit Boost to Help Nova Scotia Firms Get Ready for New Era of Prosperity
January 26, 2012 at 12:08 pm
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HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 26, 2012) -
BMO's announcement that 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 Nova Scotia, according to Laura Charlton,
Vice-President, Nova Scotia District, BMO Bank of Montreal.
"Businesses in Nova Scotia are showing palpable
excitement following the awarding of the contract to Irving
Shipbuilding to build combat ships for the Royal Canadian
Navy," said Ms. Charlton. "With new funds
available for lending, companies both directly and
indirectly involved in the project will have the
opportunity to invest in their operations to get prepared.
Our local bankers are also armed with limits to make almost
every lending decision right here in Nova Scotia."
"The shipbuilding contract is very promising news for
the Nova Scotia economy, with a benefit of $25 billion
estimated through 2030," said Robert Kavcic,
Economist, BMO Capital Markets. "Firms will no doubt
want to increase their capital spending to support the
project, and supportive financial conditions should
help."
Media Contacts:
Ronald Monet
514-877-1873
ronald.monet@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.