Business & Finance
17 September 2023, 6:08 pm 1 minute
Reuters was ahead in reporting that Bank of Montreal (BMO) 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.
The move, applicable in Canada and the United States, comes after BMO’s bad debt provisions in retail trade surged to C$81 million ($60 million) in the quarter ended July 31 compared 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.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: AmericasNorth America
Countries: Canada
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Merck, the company that brought statins to market nearly 40 years ago, has a new,…
The second day of government-imposed flight cuts took place at 40 of the busiest airports…
U.S. President Donald Trump makes an announcement in the Oval Office of the White House…
Nearly every woman who gives birth in an American hospital is strapped with a belt…
A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the…
Letters to the editor from authors using chatbots are flooding academic journals around the world,…
This website uses cookies.