TORONTO, Sept 17 - Bank of Montreal is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada's third-largest bank said.
"By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest," BMO said in a statement to Reuters. At the end of July, BMO's consumer installment and other personal loan portfolio stood at C$104 billion, and included C$54.7 billion in home equity loans.
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