is winding down its retail auto finance business and shifting focus to other areas in a move that will result unspecified number of job losses, Canada's third largest bank said on Saturday.
The move, applicable in Canada and the United States, comes after BMO's bad debt provisions in retail trade surged to C$81 million in thecompared with a recovery of C$9 million a year ago, in a sign of growing stress consumers face from a rapid rise in borrowing costs. "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.
The bank is working closely with employees who will be affected by job cuts to provide support, the bank said.
ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว
Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้
แหล่ง: Investingcom - 🏆 450. / 53 อ่านเพิ่มเติม »