BMO Financial Group

BMO Financial Group

January 26, 2012 11:30 ET

BMO's $10 Billion Credit Boost to Help Newfoundland & Labrador Firms Continue to Grow

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(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 Newfoundland & Labrador, according to Jim Fallon, District Vice-President, Newfoundland & Labrador, BMO Bank of Montreal.

"The business and economic trends continue to support our businesses as they support the resource and service sectors, said Mr. Fallon. "The availability of more credit will help more provincial firms take the opportunity to invest in their operations and improve their productivity and competitiveness. Our local bankers are also armed with limits to make almost every lending decision right here in Newfoundland & Labrador."

"Newfoundland & Labrador's growth will cool in 2012, but public and private sector investment remains solid," said Robert Kavcic, Economist, BMO Capital Markets. "Supportive financial conditions should help more firms keep up their capital spending in the coming year."

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