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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's BMO to close indirect retail auto finance business, flags job lossesBy Nivedita Balu TORONTO (Reuters) -Bank of Montreal (BMO) is winding down its indirect retail auto finance business and shifting focus to other areas in a ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
Live news: BMO closing retail auto finance business as borrowers' bad debt mountsThe Financial Post brings you the top business stories as they happen for September 18, 2023. Read on for breaking news you need to know.
Source: financialpost - 🏆 7. / 85 Read more »
Live news: BMO closing retail auto finance business as borrowers' bad debt mountsThe Financial Post brings you the top business stories as they happen for September 18, 2023. Read on for breaking news you need to know.
Source: fpinvesting - 🏆 43. / 63 Read more »
Posthaste: Why the Bank of Canada pause won't save the housing market this timeBank of Canada interest rate pause is not likely to revive Canada\u0027s housing market like it did in the spring, economists say. Find out more
Source: financialpost - 🏆 7. / 85 Read more »
Posthaste: Why the Bank of Canada pause won't save the housing market this timeBank of Canada interest rate pause is not likely to revive Canada\u0027s housing market like it did in the spring, economists say. Find out more
Source: fpinvesting - 🏆 43. / 63 Read more »