BMO Vows $70 Billion for Strategic Sectors
The Bank of Montreal has committed to spending up to $70 billion in new capital over the next decade on sectors deemed critical to Canada's economy. These sectors include energy, transportation, mining, defence, and artificial intelligence.
According to CEO Darryl White, 'Building Canada has always depended on bold ideas backed by capital.' The opportunities in these areas are seen as a key chapter in this story.
This announcement comes ahead of Prime Minister Mark Carney's Canada Investment Summit next week. Other major lenders have also made commitments: the Canadian Imperial Bank of Commerce is investing $2 billion to help small and medium-sized defence-related businesses, while Royal Bank of Canada has pledged $1.4 billion for Canadian technology companies.