Analysis-Struggling truckers dent loan books for Canadian banks [Yahoo! Finance Canada]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: Yahoo! Finance Canada
freight rates tumble, forcing banks to declare tens of millions of dollars' worth of bad loans. The big-five Canadian banks have transportation loans totalling nearly C$54 billion ($39.44 billion), according to quarterly filings as of April 30. That amount represents 3.4% of all business loans, a bigger portion than the 1.1% that oil and gas companies account for, by comparison. As the financial solvency of borrowers, known as credit quality, becomes key in a high-interest-rate environment, Canada's top banks say they are working to reduce bad loans by exercising more caution towards new borrowers. ADVERTISEMENT The banks have benefited from a surge in investment banking and wealth management, but demand for loans to individuals and businesses is weakening. Truckers bought new rigs to meet surging demand in the early pandemic, but freight rates have been stubbornly depressed since business normalized with the lifting of restrictions. As a result, truckers have struggled to m
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News
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- Another year of divergence expected for Canada's banks, but 'nothing too wild,' says Fitch [Yahoo! Finance Canada]Yahoo! Finance Canada
- Another year of divergence expected for Canada's banks, but 'nothing too wild,' says Fitch [Financial Post (Toronto, Ontario, Canada)]Financial Post
- BMO celebrates 40 years in Chicago by jettisoning the Harris name. Goodbye Hubert, hello BMO Guy [Yahoo! Finance]Yahoo! Finance
BMO
Earnings
- 8/27/24 - Beat
BMO
Sec Filings
- 9/27/24 - Form 424B2
- 9/27/24 - Form 424B2
- 9/27/24 - Form 424B2
- BMO's page on the SEC website