finance.yahoo.com

BMO to Sell Trucking Finance Unit, Ending Quarterly Credit Metrics

Bank of Montreal logoBank of Montreal
Sig3.40Sen-1.15Env0.00Soc+0.20Gov-2.05

BMO is set to sell its transportation finance unit, expected to close in the fourth quarter and be transferred to Stonepeak, a move likely to end quarterly disclosure of truck credit metrics that FreightWaves tracked for 6–7 years. The latest quarter showed improving credit quality, with gross impaired loans and allowances falling, but the business has been highly cyclical, which may have factored into the exit.

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