BMO Financial Group

BMO Financial Group

January 26, 2012 11:30 ET

BMO's $10 Billion Credit Boost to Benefit Businesses in BC

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."

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