The Bank of Montreal(BMO) is hoping that its business will grow as economic conditions south of the border improve, but low interest rates will exhibit steady pressure on BMO’s business operations in the US throughout 2014.
During a conference call on Tuesday, the head of BMO’s US personal and commercial banking division, Mark Furlong said, “The US consumer has de-leveraged.” Consumers have a bit more capacity to grow now, he added, but low interest rates will have a continuous and constant pressure on BMO’s business operations in the US throughout next year. Meanwhile Canadian banking segments will be at ease into fiscal 2014.
Related article: http://www.canadianbusiness.com/business-news/bmo-records-1-13-billion-in-net-income-in-q3-or-1-68-per-share/