BMO Financial Group

BMO Financial Group

January 26, 2012 11:30 ET

BMO's $10 Billion Credit Boost to Support Business Investment in Quebec

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."

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