BMO's Trucking Lending Unit Faces Credit Health Decline

BMOs transportation lending unit, a major player in the North American trucking industry, has experienced a significant decline in credit health during Q4. The business size shrank to nearly thirteen billion Canadian dollars, the lowest in four years, and write-offs and impairments rose. Gross impaired loans and acceptances surged to a record high of five hundred eighty-five million dollars, and write-offs increased to forty-three million dollars. Despite these challenges, provisions for credit losses decreased slightly compared to last year. This downturn reflects the ongoing pressures in the trucking and freight sectors.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.