BMO Financial Group

BMO Financial Group

January 26, 2012 11:30 ET

BMO's $10 Billion Credit Boost to Help New Brunswick Firms Improve their Productivity

FREDERICTON, NEW BRUNSWICK--(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 New Brunswick, according to John Duff, Commercial Area Manager, New Brunswick and PEI, BMO Bank of Montreal.

"Businesses in New Brunswick see the challenges they are facing as an opportunity to rethink their supply chains and look to diversify their export markets," said Mr. Duff. "The availability of more credit will help more provincial firms take the opportunity to retool and improve their productivity and competitiveness. Our local bankers are also armed with limits to make almost every lending decision right here in New Brunswick."

"New Brunswick's growth is slowing following a shift from fiscal stimulus to restraint," said Robert Kavcic, Economist, BMO Capital Markets. "Supportive financial conditions should help firms looking to increase their capital spending in the year ahead."

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