Bank of Montreal : BMO's $10 Billion Credit Boost to Support Business Investment in Quebec
January 26, 2012 at 12:08 pm
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MONTREAL, QUEBEC--(Marketwire - Jan. 26, 2012) - BMO's
announcement today 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 Quebec, according to Victor Pellegrino, Vice-President,
Commercial Banking, Montreal, BMO Bank of Montreal.
"We're seeing cautious optimism among Quebec
business owners, with several firms taking the opportunity
to invest in their businesses despite slowing GDP
growth," said Mr. Pellegrino. "The availability
of more credit will provide further impetus to Quebec firms
to make the strategic investments they need to better
position them for improved productivity and
competitiveness. Our local bankers are also armed with
limits to make almost every lending decision right here in
Quebec."
"Further growth in business investment would help
support economic growth in Quebec" said Robert Kavcic,
Economist, BMO Capital Markets. "With softening
growth, sluggish U.S. demand and fiscal restraint taking
hold, supportive financial conditions would help support
capital spending in the coming year."
Media Contacts:
Ronald Monet
514-877-1873
ronald.monet@bmo.com
www.bmo.com
Twitter: @BMOmedia
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